That was May 19th - the 90 level was always the target for a no change FA situation, that level finally reached this week.
On the same day that the 90 level was reached (July 9th) cable made it’s low of this year.
Hence I mentioned in that same post:
Anyways - all left side stuff, what now on the right side of the chart?
The FA is stuck in that there are only two possible outcomes for a new UK PM. Boris Johnson is the likely winner and is seen by the market as the more probable to exit the EU on WTO terms - if so then negative GBP.
Hunt is seen as more likely to listen to business and should he win then GBP positive.
So a period of consolidation on GBP until the outcome becomes clear.