GBP – Brexit/Bremain Levels

GBP – Brexit/Bremain Levels

Well with 48 hours to go it all comes down to this. The polls show a slight edge to the Remain side but with BBC debate tonight momentum can swing either way.

The vote is highly asymmetrical with the Brexit side creating far more risk for the pair. The upside should be capped by the 1.4800-1.5000 zone as relief should bring only a modest rally.

A vote for Brexit however could create unprecedented volatility and could send the pound plunging to 1.4000 and then quickly to multi year support at 1.3500. With brokers raising margins trading small is going to be critical as spreads and vol could explode.

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