GBP/USD keeps pushing on, through 1.45 and on to ...?
GBP/USD has continued higher, breaking the 1.45 barrier and hitting highs of 1.4537 so far.
Thin markets are allowing for the move with the remain camp taking the lead in the polls and sentiment shifting towards a Breamin at the start of the week where the EU referendum has been scheduled for the 23rd June, despite that there is the potential of the event being canceled in light of the Jo Cox, Labour MP tragedy last week.
GBP/USD started the week with a bullish gap from 1.4342 to 1.4479 and has not looked back based on the latest polls as follows:
Brexit: BMG phone poll has 'Remain' leading by over 7 points
YouGov: 43% Leave, 44% Stay, 9% Undecided
Opinium: 44% Leave, 44% Stay
Survation: 42% Leave, 45% Stay, 13% Undecided
GBP/USD levels
GBP/USD has broken through the 200 sma on the 4hr sticks at 1.4453, through the 1.45 psychological level and on a break of the 1.4580 area, the next key targets are 1.4610 ahead of 30th May highs of 1.4723. On a resumption of the downside, 1.4200 is a psychological level to break ahead of the 1.4014/05 area where the recent and April lows were made and these are guarding the 1.3837 February low.