GBP/USD struggles to hold above 1.4800, Brexit vote underway
|GBP/USD has pulled back from brand new 2016 highs at the beginning of the New York session as all eyes remain on the UK referendum underway.
The pound strengthened sharply and climbed to its highest level since Dec 18 after latest polls suggested the Bremain vote lead. GBP/USD peaked at 1.4945 but failed to extend gains and retreated instead. It was last trading at 1.4815, still up 1.29% on the day.
UK referendum first results are expected around 00:00 GMT but a reasonably clear picture of the should be from around 04:00 GMT on Friday.
GBP/USD technical levels
In terms of technical levels, immediate resistances are seen at 1.4945 (2016 high, Jan 23), 1.5000/07 (psychological level/Dec 17 high) and 1.5097 (Dec 16 high). On the other hand, supports could be found at 1.4680 (200-day SMA), 1.4641 (Jun 22 low), 1.4615 (Jun 21 low) and 1.4473 (50-day SMA).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.