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GBP/USD Forecast 23 June 2016

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GBP/USD Forecast 23 June 2016
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It’s time of the British pound today. The referendum on the UK exit from the EU will be held today.

This means that tomorrow the markets around the world open with gaps, the only question is in what direction?

Over the past 4 months, we were monitoring the situation and expect to see the indivisible European Union.

Markets are preparing to meet the positive outcome of the referendum in the UK. The first preliminary results will be published tomorrow. The exit polls will not be published until that moment. Tomorrow the world will know the final and official result of the vote.

It’s difficult to assume what level the pound can reach this time. We expect the level of 1.50. We do not expect the formation of a sustainable medium-term growth, as it will be purely psychological buying. Now the pair GBP/USD is trading in the range of last December.

How to trade

The continuation of the upward movement is possible after the breakdown of 1.4860, in this case, the target - 1.4996. The short-term downward movement is possible in the range of 1.4665 - 1.4569, the breakout of the low limit will lead to the correction. We would buy call options if the pair rises above 1.4860. We would buy put options if the pair falls below 1.4665.

Expiry time: 20:00 GMT

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.

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