It seems clearer that Brexit wins the day in the UK. The pound is already at the lowest since 2009 and the euro is also suffering. A UK exit of the EU is a blow for the EU and one of the biggest projects: the monetary union. The pound has already dipped 9% to the lowest levels since 1985. Sky News and other odds checkers, TV channels and experts all come around to acknowledge the Brexit. Nigel Farage is celebrating.
EUR/USD is in a free fall, heading towards 1.10.
Update: UK leaves the EU – it is official – expect more crashes
Support is at 1.1070, a line triggered by Draghi. We already had a dip below this level but no confirmation. The next level is 1.10, followed by strong support at 1.0820 and 1.0710.
Resistance is at 1.1130 and 1.1190 but the markets have gone mad. 1.1018 is the low so far. At a time that the pound falls to the lowest against the dollar since 1985, the 3% fall in EUR/USD looks muted.
- Do these 3 things if you opt to jump on the Brexit train
- Follow:Â EU Referendum Real Results Live Blog
Here is the chart:
