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Even if the polls break toward more clearly toward "Bremain" ahead of the 23 June referendum it's hard to see GBP forcefully unwinding its Brexit premium until the certainty of the vote is out of the way. It is now connecting the February high with local April peaks at 1.
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Despite indecisive trading, it But the dollar remains weak and looks likely to fall further in the near future. We're clearly in this topping-out process. Technically, we should see On Tuesday morning the conditions are similar, even though the cross is now hovering That's creating some degree of confusion, and of course, prudent risk management suggests one scales back on short positions.
The bottom target is now the monthly S1 at Yesterday was a turbulent day, as the spot ranged from 1.
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However, ultimately the pair has been Intraday losses were extending down to the weekly pivot point at 1. Therefore, the cross keeps hovering around the February high at 1.
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