GBP/USD: early Asia dumps sterling ahead of big bears returning

GBP/USD has been hit hard in thin trade ahead of the Tokyo open, traders getting short before fuller markets take over and potentially continue with selling sterling under the current theme with Brexit polls favouring the leave campaign.

New poll from Opinium shows a huge lead for Brexit

GBP/USD came under pressure at the end of last week's trade on Friday as per previous news written at the start of the early Asian session. 

GBP/USD is negative territory, eyeing lower lows towards 1.4083/05 area

GBP/USD has dropped from 1.4265 highs and fallen over a cent to mark 1.4163 lows so far on the move. 

GBP/USD levels

GBP/USD will be with a negative bias below the 1.4297 and the 2 month uptrend. While the price has dropped below the 1.42 handle, the next major targets are 1.4083/05 area (January and April lows). On a correction, the 100 dma is located at 1.4353, the 20 dma is at 1.4506 and close to the 1.4515 (March high) ahead of 1.4665 (February high).