GBPUSD, Daily
Sterling has rallied strongly on news that the latest Brexit poll by ORB shows 55% wanting to remain in the EU and just 40% wanting to leave. Ladbrokes now giving 75% odds for UK to remain in the EU, up from 71% this time yesterday. The poll was reported in the Daily Telegraph newspaper, with the The Guardian newspaper publishing a separate ICM poll showing the Remain camp 8% ahead of the Leave. GBPUSD continued to rally is currently trading over 1.4500 at new weekly highs at 1.4515.
Interestingly, the Daily candle found support at the 50 DMA yesterday at 1.4340, with the 20 DMA higher at 1.4475.
UK CPI data is published at 08:30 GMT and expectations are for unchanged data at 0.5% year on year.
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Janne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.
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