GBP/USD drop erased
The pound is virtually flat on the day after falling by as much as 110 pips. The Brexit Supreme Court decision added a dose of volatility to the trade but yesterday's GBP strength has re-established itself.
It's such a mixed up trade at the moment so I think the technicals are the way to watch it. The low today nearly matched the old January high. That's a classic retest and the swift rejection is bullish.
The next hurdle is the earlier high of 1.2545 and a close above the 100-dma at 1.2518 would be another positive signal.