GBP/USD flirting with highs near 1.4650

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By Pablo Piovano

The Sterling is the best G10 performer so far today, now lifting GBP/USD to the mid-1.4600s, near session tops.

GBP/USD stronger as ‘Brexit’ fades

The pair is up more than six cents since last week’s troughs in the 1.4000 neighbourhood (Thursday) backed by easing concerns on the likeliness of the UK leaving the European Union at Thursday’s referendum.

In fact, latest poll results released since Friday showed the ‘Stay’ vote has regained momentum, although the ‘Leave’ option remains close behind.

Ahead in the week and absent relevant releases in the UK docket, the UK-EU Referendum will be the exclusive driver for the sentiment in the global markets, with results expected to hit the wires early in the Asian session on Friday.

GBP/USD levels to consider

As of writing the pair is gaining 1.94% at 1.4640 and a break above 1.4682 (200-day sma) would target 1.4744 (high May 26) en route to 1.4770 (2016 high May 3). On the other hand, the immediate support lines up at 1.4454 (20-day sma) followed by 1.4426 (55-day sma) and then 1.4356 (100-day sma).

News Source: http://www.fxstreet.com/

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