GBP/USD Through 1.45 on Brexit Polls

GBP/USD Through 1.45 on Brexit Polls

24 May 2016, 10:15
Roberto Jacobs

GBP/USD Through 1.45 on Brexit Polls

A bout of buying interest sent the sterling to session highs vs. the dollar, with GBP/USD quickly leaving behind the 1.4500 barrier to climb to the vicinity of 1.4550.

GBP/USD stronger ahead of BoE Inflation Report

Spot has retaken the 1.4500 handle after latest results from ORB International for the Daily Telegraph showed the ‘Remain’ vote keeps the lead with 55% vs. the ‘Leave’ vote with 42%.

Spot is thus snapping a 2-day negative streak, refocusing on last week’s tops around 1.4660 ahead of the testimonies by BoE’s Carney, Broadbent, Weale and Vlieghe before the Treasury Select Committee Hearing.

GBP/USD levels to consider

As of writing the pair is advancing 0.38% at 1.4541 facing the immediate hurdle at 1.4666 (high May 19) ahead of 1.4770 (high May 3) and then 1.4815 (2016 high Jan.4). On the other hand, a breakdown of 1.4365 (20-day sma) would aim for 1.4335 (100-day sma) and finally 1.4330 (low May 16).


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