The pound has risen using a campaign’s suspension. The referendum on Britain’s membership in the EU will take place on 23 June. Recent surveys show that the number of supporters and opponents of Brexit are almost the same.
The GBP/USD technical analysis and forecast for the week 20 June 2016 – 24 June 2016
The pound tested the psychological level of 1.40, which was anticipated in the forecast for today. The RSI comes back to the neutral zone, most likely before the referendum trading range is limited to levels of 1.40 – 1.44. The high volatility is expected next week. The GBP / USD forecast for the week 20/06/2016 – 24/06/2016 considers two scenarios:
1. The breakdown of the level of 1.44, and a further quotations growth with 1.48 as the first target;
2. The fall of the pound down to the minimums of 2016 with a point of 1.38.
