GBP/USD has been moving into a very strong bullish bias during the Referendum's day, and it's expected to be still favored by the bulls, as the latest polls showed that the odds are favoring for a "Remain" option as the winner. The technical picture is showing an upside slope by the 200 SMA on the H1 chart, and the MACD indicator remains solid in positive territory. Should the Cable break below the 1.4759 level, in order to invalidate the upside scenario, it could decline towards the 200 SMA price zone.
H1 chart's resistance levels: 1.5016 / 1.5105
H1 chart's support levels: 1.4906 / 1.4759
Trading recommendations for today: We don't recommend to hold positions on GBP/USD today because of the Brexit Referendum's final results.
The material has been provided by InstaForex Company - www.instaforex.com