GBP/USD Back Under Pressure as Poll Shows the “Leave” Vote Ahead

GBP/USD Back Under Pressure as Poll Shows the “Leave” Vote Ahead

31 May 2016, 17:01
Roberto Jacobs
0
22

GBP/USD Back Under Pressure as Poll Shows the “Leave” Vote Ahead

GBP/USD turned sharply lower and fell to fresh lows for the day after another poll showed the “leave” vote was ahead in the EU referendum, fueling concerns over the Brexit.

Ahead of the June 23rd referendum on EU membership, a telephone poll from ICM showed the 'leave' vote at 45% compared to 42% to 'remain' in the EU, while an online poll from the same firm shows 47% to leave and 44% to stay.

GBP/USD lost more than a hundred pips in a matter of minutes and hit its lowest level in a week at 1.4547. At time of writing, Cable was trading at 1.4558, down 0.55% on the day.

GBP/USD levels to watch

In terms of technical levels, GBP/USD could find next supports at 1.4547 (May 31 low), 1.4516 (20-day SMA) and 1.4472 (May 24 low). On the flip side, resistances are seen at 1.4723 (May 31 high), 1.4762/68 (200-day SMA/May 3 high) and 1.4815 (Jan 4 high).


fxs_logo_news.png

Share it with friends: