Was the tragic murder of UK MP Jo Cox behind the shift in the mood towards the EU Referendum? Or did it already begin beforehand? The answer may be irrelevant but the picture in the polls is clear.
The Remain camp made a comeback to a tie in the opinion polls. 3 days before the critical poll, the momentum belongs to those wanting to stay in the UK. We did expect the pound to jump but this is really huge: 1.6% higher at the time of writing on the day, and around 600 pips from the trough.
The pair is currently sliding back to high support at 1.4580. If it slips below, we could see 1.45 and 1.4440 as lines of support and still stand above the close on Friday which saw the pair capped under resistance at 1.4370.
On the upside we find strong resistance at 1.4650 followed by the round number of 1.47. The May high of 1.4770 is another strong line of resistance, but if we see more positive polls, 1.50 is never too far.
More:
- Is your broker Brexit ready?
- Brexit or Bremain – all the updates
Here is the GBP/USD chart:
