GBP/USD: losing its shine on closer polls

GBP/USD lost its gains that were made today on mixed polls and has fallen back from 1.4782 highs, oscillating at 1.4650 at time of writing. 

Brexit: cash in on the dead end at least?

The latest IG Survation Brexit poll shows that the margin between stay and remain camp narrowing with 44% supporting the 'Leave' camp while 45% willing to remain with the EU. As noted within that article, the referendum could be a very close call and volatility is here to stay. The pound has rallied to near 2016 highs and that probably spells downside potential again from here given the risks associated to a Brexit and the lack of potential upside on a Breamin vote. 1.4814 was the 3rd Jan highs and a break of Dec 1st 1.4893 lows threaten the 1.50 handle, however, on a Brexit, there is considerable downside to go marked by marked by the recent 1.4011 low as a line in the sand at least.

GBP/USD technically neutral

Valeria Bednarik, chief analyst at FXStreet explained that in the 4 hours chart however, the technical indicators are correcting the extreme overbought readings reached earlier this week, "Further slides are not confirmed, given that the RSI indicator turned flat around 68 whilst the Momentum indicator holds far above its 100 level, and the 20 SMA has continued advancing below the current level, now approaching the 1.4500 figure. Despite market is turning cautious, more wild spikes either side of the board can't be disregarded, ahead of the referendum."