The Cable Guy Says to Get 'er Done

Let's take another look at the "Cable," or the Pound/Dollar currency cross, as equites still seem to be v very sensitive to it this morning in light of the overnight news. 

On the 30-minute chart, below, we have a well-defined triangle consolidation of lower highs but also higher lows (light blue lines). Whichever way that triangle resolves will likely see equities follow suit, if only for an intraday move.

Also note that chart patterns can and do often morph, so the triangle may simply become part an parcel of a large consolidation in the Cable over the weekend if the market decides it wants more time to sort things out. 

(Why is the Pound/Dollar cross nicknamed the "Cable"? Because there was a cable under the Atlantic ocean linking UK with USA which was used to synchronize British pound with U.S. dollar by a telegraph. The cable was laid in 1858 and made it possible to transmit currency prices from London’s to New York’s trading desks, via forexillustrated.com)