Pound Soars On Brexit Poll Hopes

Morning Report: 06.30 London

• This morning the British pound is rallying and undoing much of the losses incurred over the last two weeks. The move has been sparked by an apparent resurgence in ‘remain’ votes in this week’s EU referendum. The  likes of the GBP/JPY, GBP/JPY and EUR/GBP have rallied this morning.

• The EUR/GBP is rallying despite a corresponding rally in the euro, a recognition that a remain vote is also good news for the euro.

• The US dollar has gapped lower on the move, with the USD/JPY lifting off Friday’s lows as risk appetite returns.

• The risk appetite temperature can also be measured in the performance of the NZD/USD this morning.

                                                                                                                                                                                                                                                                                                                                                   
Coming up today:

• We’ve a quiet day ahead today, with the German Buba Monthly Report at 11.00, the morning’s only real highlight.

Trade Idea:

• Volatility has dropped this morning, but with markets moving on the release of every poll, we’re unlikely to travel to sunny uplands uninterrupted.

                     


A good way to play this is a LOWER trade on the USD/ JPY predicting that the pair will close below 104.00 in 2 days time for a potential return of 180%.

                          
                                                         

Disclaimer: This financial market report is intended for educational and information purposes only. It should not be construed as investment or financial advice and you should not rely on any of its content to make or refrain from making any investment decisions. The views expressed in this report are those of the author and do not necessarily reflect the views or position of Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Binary options trading may incur losses as well as gains.