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No Brexit? GBP/USD shoots 100 pips higher

There is more evidence that Britain will stay in the EU also after the June 23rd referendum, at least according to yet another  opinion poll. This joins previous polls by YouGov, ICM and ORB that all showed the same trend.

The  IPOS Mori poll shows an  absolute majority for the Remain camp at 55% and only 37% in the Leave camp. The 18 point margin is quite spectacular. Nevertheless,  this poll shows that even if all the undecideds opt for leaving, the pro-EU campaign  still enjoys a large advantage.

Opinion polls on the Brexit question dominate the scene. We did have short intervals for economic indicators, but they had only an hour in the sunshine before speculation about the Brexit or no-Brexit took over once again, and with a much bigger impact. The low level of inflation reported yesterday did weigh on the pound, but this has been long-forgotten. The OK jobs report helped today but the bigger mover is the No-Brexit poll.

GBP/USD trades well above 1.45, reaching 1.4537 so far, climbing over 100 pips from the low 1.44s. If the break above 1.45 is confirmed, we could challenge 1.4580 and 1.4650.

More:  USD and GBP look strong ahead of key data for both

GBPUSD higher on more Remain polls May 18

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.