GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.62% against the USD and closed at 1.4880, hitting a one-year high, after early polling results put “Bremain” in the lead.
In the Asian session, at GMT0300, the pair is trading at 1.3577, with the GBP trading 8.76% lower against the USD from yesterday’s close. In a dramatic turn of events, the Leave camp has edged ahead in the UK. The leave vote edged out those in favour of remaining by an estimated 52% to 48%. 348 authorities out of 382 have so far declared their results.
The pair is expected to find support at 1.3060, and a fall through could take it to the next support level of 1.2543. The pair is expected to find its first resistance at 1.4556, and a rise through could take it to the next resistance level of 1.5535.
Moving ahead, UK’s BBA mortgage approvals data for May is scheduled to release in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
