For the last seven months there has been a strong inverse relationship between FTSE 100 and GBPUSD
GBPUSD 24th January 2017
GBPUSD may have just made a higher low on the 10mn poc. This is an intraday chart/pattern, but even so if GBPUSD holds this level it is in strong price location.
British Pound in weak price location
GBPUSD daily chart 4th July: Retail traders are heavily long GBPUSD. I’m not tempted. Chart failed at major Resistance in June and is now printing below the 1/2R off March low which is weak price location. CP Price Osc is below zero indicating trend down (= red bars on chart).