After polls showed a lead for remain and early results for Leave, we start a live blog to cover the influx of real results and the reactions. GBP/USD already had a range of over 700 pips.
The night began differently with voting day polls showing a victory for Remain. Cable eventually climbed to 1.5017 as it seemed that Farage was conceding. Things totally changed with the real results from Newcastle and Sunderland, which already triggered the huge fall.
When GBP/USD was still flirting with 1.50, I provided 3 reasons why GBP/USD could fall from here, assuming a Bremain victory. The real results sent the pound crashing, but on actual results rather than positioning.
And from there it became more and more obvious that Leave wins. A 10% fall in the pound.
Update: UK leaves the EU – it is official – expect more crashes
Live Blog – As it happened
More:
- EU Referendum Preview: Positioning, Scenarios and Key Results Releases
- Is your broker Brexit ready?
- Brexit or Bremain – all the updates
