A Full, Traditional, English Brexit

It remains to be seen if the massive dip will get bought in equities into the weekend. But, either way, I suspect we are short-term beholden to the "Cable" currency cross of the Pound/Dollar. 

On the daily chart, below, 1.40 would be the initial level to reclaim for any type of respite. Once we lost that level last night, for example, global markets began to shift from being very concerned to outright panicky. 

In other words, even if you want nothing to do with trading currencies, regarding equities it is worth keeping tabs on this cross with the 1.40 dividing line until further notice. 

The Cable is also dealing with its prior 2008/9 bear market lows, which adds further complexity to this analysis--I will flesh that out fully for Members over the weekend. 

FXB is the long Pound ETF, for those interested in buying the falling crumpet.