- According to the latest poll, via Number Cruncher Politics, the Remain camp continues on the lead at 46%(+3 from previous) vs Leave 44% (-1 from previous), with undecided at 10 (-2 from previous).
- Overnight, the latest polls via YouGov (online), showed Remain 51% and Leave 49%, while ComRes (phone) saw Remain 48% and Leave 42%.
- The pound continues to be well bid in light of the most recent opinion polls' outcomes.
- EUR/GBP has slipped below the 78% Fibo level and is currently trading around 0.7645 levels.
- Resistances on the upside align at 0.7656 (78.6% Fib of 0.7565 to 0.80 rally) ahead of 5-DMA at 0.77.
- On the downside supports are seen at 0.7617 (Jan 21st low), 0.76 and then 0.7568 (200-DMA).
- Market sentiment could be volatile in the lead up to the vote and recent moves on currency markets remain vulnerable to swings/reversals.
Recommendation: Book partial profits, tighten trailing stops to 0.7656, target 0.7620/ 0.76
