GBP/USD Drops to Lows Around 1.4550
The Sterling is not smiling anymore, at least not today, as GBP/USD has now dipped to session lows in the mid-1.4500s.
GBP/USD lower on poll results
The pair met increasing selling pressure following latest poll results on the UK Referendum,
showing the ‘Leave’ vote now leading with 41% but closely followed by
the ‘Stay’ vote with 38%, while 21% still remain undecided.
Following these results, uncertainty surrounding the validity of
‘Brexit’ polls remains on the rise and keep weighing on GBP, which
already prompted spot to give away over a cent since yesterday’s tops
beyond 1.4660.
GBP/USD levels to consider
As of writing the pair is retreating 0.34% at 1.4566 facing the
immediate support at 1.4509 (20-day sma) followed by 1.4330 (low May 16)
and finally 1.4088 (low Apr.14). On the other hand, a breakout of
1.4663 (high May 19) would aim for 1.4770 (high May 3) and then 1.4792
(200-day sma).
