Pound/dollar is trading around 1.2825 after dipping under 1.28 and hitting a new low of 1.2775 on Friday. Before the weekend, we discussed the three reasons for the fall of the pound. Cable had reached the lowest in a montn. One of the drivers was the tightening of opinion polls in the UK. Quite a few new polls have been released over the weekend and they paint a mixed picture. Latest UK polls ICM continues showing a wide lead for PM Theresa May’s Conservatives: 46% to 32% for Labour. The same 14% margin remains intact. YouGov shows a tightening with 43% for the Tories and 36% for Jeremy Corbyn’s party. Opinium showed a lead of 10% against 13% beforehand. ComRes showed 12% after 18% in a previous poll. ORB showed the narrowest gap of only 6% after 12% previously. All in all, the Conservatives maintain a solid lead, but it is somewhat narrowing according to some opinion polls, but not all of them. In general, the polls showing a larger lead for the Tories rely on previous voting patterns, whereas older people turn out to vote more than youngsters. This is what happened in 2015 and in the Brexit referendum and favors PM May’s party. The polls showing a narrower gap rely on the massive last-minute registration of youngsters to vote. The pound and the elections Markets clearly prefer a landslide victory for the Tories. They are still seen as the pro-market party despite some interventionist rhetoric from May. The alternative, the Labour Party, broke to the hard left under its current leader Jeremy Corbyn. And what about Brexit? While May has adopted a tough line on the issue, the assumption is that she will soften after the vote, after receiving a full mandate. After the gap had narrowed, the latest opinion polls do not all go in one direction. Has Labour’s momentum stalled? Or is it just a correction after the big fall? Another explanation is that the move to the upside is related to the bank holiday in the UK. Current trading on thin liquidity does not reflect what is really going on and the downtrend could resume afterward. More: GBP: What Would A Labor Win Mean For GBP? – Nomura GBP/USD levels In any case, GBP/USD is currently trading at 1.2826, up some 50 pips from the trough seen on Friday. Resistance awaits only at 1.29, followed by 1.2980 and 1.3050. Support is at 1.2750 and 1.27. 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. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Draghi sees the glass half-full – EUR/USD not buying it Yohay Elam 6 years Pound/dollar is trading around 1.2825 after dipping under 1.28 and hitting a new low of 1.2775 on Friday. Before the weekend, we discussed the three reasons for the fall of the pound. Cable had reached the lowest in a montn. One of the drivers was the tightening of opinion polls in the UK. Quite a few new polls have been released over the weekend and they paint a mixed picture. Latest UK polls ICM continues showing a wide lead for PM Theresa May's Conservatives: 46% to 32% for Labour. The same 14% margin remains intact. YouGov shows a tightening with… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.