GBP/USD Drops to Lows Around 1.4550

GBP/USD Drops to Lows Around 1.4550

20 May 2016, 12:51
Roberto Jacobs

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).


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