A>>B, B>>C, then... USDGBP!!

We are tired of reading that after the Brexit, the British Pound is sinking against the USD. However, the USDGBP is the product of other crosses. Daddy is the euro against the dollar, EURUSD, mammy is the euro against the pound, EURGBP (if you have any doubt, compare the Bristish trade volume with Europe and US), therefore the pair USDGBP is mathematically set.

Just as a reminder, the chart above shows how in 2009, the EURGBP almost reached the parity. Also that for more than 4 years after that, the value of pair has been above the price today, with no Brexit. During these years, we see a distribution pattern and we don't find strange this strong rebound (in fact we were expecting it earlier, as the owners of a multicurrency mortgage know). Simply, the USD is still strong against most of the currencies. We will see if it lasts against the euro...