Bremain Momentum – Will GBP jump?

Bremain Momentum – Will GBP jump?

19 June 2016, 19:06
Sherif Hasan

The markets are closed but pollsters don’t rest. Figures released by various companies shower a tighter race. Some indicate some loss of momentum for the Brexit camp ahead of the tragic murder of MP Jo Cox on Thursday while others show a direct shift in voting intentions worth 3% from side to side, or a 6% move, in the aftermath of the killing.

The data narrows the average lead for Leave from 5% to only 2%, making this a truly open contest. It is now 46% to 44% after reaching 48% to 43% at the Brexit peak which was a total shift from 46% / 41% for Remain beforehand.

Here is updated data from UK polling report:

Given these polls, we can expect an extension of the pound’s gains, gains that began with the low point of the murder and were worth a total of around 330 pips: from 1.4010 to around 1.4345 at the close on Friday.

Resistance awaits at 1.4350 followed by 1.4440, 1.45, 1.4580 and 1.4650. Support is at 1.4280

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