Is the Pound set for a Squeeze on the buyers

The Pound did not take kindly to the news that Brexit may be delayed yet again as buyers were quick to lock away some gains as price spiked lower. There is still a lot of fuel built up from the BidZone and the 1.2200 area that could be the target for a squeeze lower off 1.3010. Of course a little bit of positive news could trigger further buying to target the OfferZone but either way we are watching for corrective action lower for a potential sell entry and then will manage the risk as appropriate.