GBP/USD: back to 1.48 handle on Bremain sentiment

Regardless of the pending risks that the EU referendum poses, the markets are backing the Bremain outcome and sterling is well bid again, back to 1.4800, on a short squeeze on the latest polls on the eve of the event. 

GBP/USD made fresh 2016 highs earlier on the following:

From YouGov (online): Remain 51% and Leave 49% and ComRes (phone): Remain 48% and Leave 42%. 

However, previous to this, GBP/USD made a low of 1.4640 overnight on the Opinium poll that gave the ‘leave' camp a slight lead with 45% versus 44% for the ‘remain' and 9% still undecided.

GBP/USD levels

Valeria Bednarik, chief analyst at FXStreet explained that as for the short-term technical picture, "The 4 hours chart shows that the Momentum indicator keeps heading lower within positive territory, whilst the 20 SMA offers an immediate support around 1.4620, with its strong bullish slope, all of which suggesting that a break below it may see a deeper downward corrective move, down to 1.4550."