Today is the Brexit's referendum day and markets will keep an eye on the latest updates about the results and how the polls' sentiment will be favoring to the "Remain" or "Leave" options. GBP/USD, as the major GBP pair, is expected to experience huge volatility during this day and tomorrow morning at least, as the results come. Today it's better to refrain from taking intraday positions, as the cable is likely to have irregular moves during sessions. On a technical basis, we should note that a strong resistance is placed around the 1.4750 level and one key support lies at the 1.4464 level where the 200 SMA is located.
H1 chart's resistance levels: 1.4730 / 1.4806
H1 chart's support levels: 1.4597 / 1.4464
Trading recommendations for today: We don't recommend to hold positions on GBP/USD today because of Brexit Referendum.
