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Wednesday, 22 June 2016

GBP/USD: Betting on BREXIT Referendum

GBP/USD: Betting on Brexit Referundum

Pollsters say it is too close to call. Punters favour a Remain result. If the Brits vote to stay in the EU, we should see a considerable spike tomorrow evening into Friday (green triangle), followed by resumption of the upwards slope from a higher spot than present value. A vote to exit will bring a down-spike (red triangle), but this should be followed by a return to present levels, as the pound is under-value. My bet is on Remain..

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