Global macro overview for 22/02/2016:
After 30-hour long negotiations with EU politicians, British Prime Minister David Cameron managed to secure the first date for the EU membership referendum on June 23, 2016. Moreover, at the press conference Cameron said that: "UK will never be a part of EU super state", setting the general stance among the fellow UK citizens. His words have found the support very fast in form of remarks from another important politician, Major of London Boris Johnson, who backs the UK exit from the EU as well. In conclusion, we can clearly observe a progression of one of the most important event of the year that clearly can change a lot on the economic and political scene in Europe. The question remains, whether the UK citizens have the same view on the EU membership deal as the Prime Minister.
Let's now take a look at the GBP/USD pair after the news has been released. The pound is clearly sliding downside after leaving the weekend gap open and currently is trading at the technical support at the level of 1.4150. Any break out below this level would accelerate losses and bears would be in full control of the market.