GBP/USD now headed to 1.2500 on Brexit outcome?

Ross J Burland FXStreet

The leave camp are 1,000,000 votes ahead of the remain camp - no confirmation as yet, but leave camp strongly ahead!

GBP/USD has made fresh lows as the Leave campaign has essentially won the campaign with it being very unlikely that the stay camp could make a come back.

GBP/USD has dropped from 1.5016 down to 1.3275 the low so far. These moves are historic and when European traders get to desks further downside could see levels below the 1.30 handle. The BoE governor is going to have a job on his hands today and he is expected to make an address along with Cameron.

For more on this, some extra reading:

Brexit trade: a look beyond sterling and get back to basics

Next trade, Cameron to resign?

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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