The big day has finally arrived for the United Kingdom as it goes to face an election over its membership in the European Union. The Britons will vote either in favor of Remain or Leave, which shall commemorate the future roadmap for the country.

According to the Bloomberg Composite EU Referendum Poll Tracker this morning, the 'Bremain' camp is leading its Brexit counterpart 46.7 percent to 44.7 percent. If the undecided voters (13.5 percent) agree to stay with the majority, as witnessed during the Scottish Referendum in 2014, the final outcome could be around 55-60 percent in favor of 'Bremain'.

Another last-minute UK poll from TNS shows 43 percent favouring Leave and 41 percent Remain. This contrasts with a Remain lead of 7 percent on 13 June and is expected to add more downward pressure on GBP. A new UK (online) poll by Opinium shows 45% favouring leaving the EU and 44% in favour of remaining. However, according to Betfair, the probability of the Remain camp winning in today's UK referendum has risen by 78 percent, in response from the latest campaign polls.

Polling stations will close at 10 p.m. London time tonight with no exit polls. The results for the first counting areas will start trickling in from 12.30 a.m. Half time will be around 3-4 a.m. with the final official result out at 7 a.m. Friday, DBS reported.

According to a Reuters newswire report this morning, G7 finance leaders are expected to issue a joint statement to take all necessary steps to calm markets in the event that UK shocks with 'Brexit'. Moreover, European Central Bank (ECB) President said on June 21 that the central bank has done all preparations necessary for Brexit. However, the G7’s objective will be to avoid a credit crunch, in the wake of a win of Leave campaign.

Meanwhile, GBP/USD is likely to give up most gains if Brexit emerges. While markets will be watchful for central banks, they will also test their resolve in calming sentiment. Needless to say, markets are going to be volatile, especially on Brexit.