GBP/USD (current price: 1.4776)
The pair re-tested Tuesday’s high on a choppy but ultimately flat day, as investors remained optimistic regarding today’s referendum. The recent polls show a slight lead for the “Remain” camp, but the margin is not decisive and a surprisingly close outcome is a possibility. Resistance levels to watch before the vote are the 1.4775, and the 1.50 levels, with strong support at 1.4520, and at 1.4385. The 200-day MA is right at the current rate at 1.4685.
Our assessment: GBP/USD is likely to get highly volatile today, and traders should expect a wide trading range and a possible break-out to the upside towards the crucial 1.50 level.
