TenkoFX - Analytics


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    GBP/USD 1.4830, and so it begins, fresh 2016 highs

    GBP/USD has rallied as remains are well and truly back on top, or so the market is positioning that way. GBP/USD made a low of 1.4640 earlieron the Opinium poll that gave the ‘leave' camp a slight lead with 45% versus 44% for the ‘remain' and 9% still undecided and Brexit trade: a look beyond sterling and get back to basicsBut the latest polls were in from YouGov (online): Remain 51% and Leave 49% and ComRes (phone): Remain 48% and Leave 42% - sterling bullish, and sterling popped 30 pips higher then 60 to 1.4764 initially and now we are on the 1.48 handle, with fresh 2016 highs of 1.4842.GBP/USD levelsWe are above the 200 dma at 1.4680. The key target is the Oct lows of 1.5106, but below there 1.5026 are the Nov lows and 1.4893/00 comes as December double bottom. To the downside, on the wide, the 50 dma is at 1.4475 below 1.4620 and 1.4750.

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