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GBP/USD: Trading Day began with a gap _20/06/2016

Technical analysis and trading recommendations- https://fxpcm.com/en/fx/gbpusd-trading-day-began-gap-20062016

A referendum on Britain's membership in the EU will be held June 23 and the results will be published at 02:00 (GMT) on Friday. The withdrawal can cause upheaval not only in the UK and the European Union economy, but also in other parts of the world.

It may also be tempted to exit from the EU and other countries. First of all it may concern Ireland, whose economy is closely linked to the British, the Portuguese, the banking system is a problem which may be deprived of cheap ECB loans.

After the attack on Thursday in the British Member of Parliament Joe Cox, who later died in the hospital, waiting for the continuation of the UK's membership of the EU continue to gain momentum.

The results of the survey, which Survation company published on Sunday showed that 45% of voters would vote for EU membership, while 42% would vote for an exit. Sunday YouGov poll showed that support for EU membership 44%, and the yield - 43%. The result of the last survey was encouraging a sharp appreciation of the pound and the pair GBP / USD at the opening of the trading day on Monday. Gap at the opening was more than 110 points and the positive dynamics of the pair is maintained. Voting results for UK membership of the EU will be known on Friday. If there is no other negative news of economic and political character, on this positive note, the pair GBP / USD can hold out until the publication of the referendum results.

If the British vote for the output, as warned earlier in May, the head of the Bank of England Governor Mark Carney, the weakening of the British pound and the stock market may be more than 20%. Can long-term follow sharp drop in GDP, rising unemployment and, as a consequence, the fall in living standards in the country. Financial market movements as a result of a strong reallocation of funds will be long and ambitious.

Monday, 20 Jun, 2016 / 12:01

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Source : http://fxpcm.com/en/fx/gbpusd-trading-day-began-gap-20062016

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