GBP/USD trims daily losses

GBP/USD remains under pressure at the beginning of the American session, although off daily lows, after several polls revealed the “leave” is leading in the EU referendum vote, which raised fears of a Brexit.

GBP/USD bottomed out at 1.4351 soon after the weekly opening, but managed to trim some losses afterwards, although it has filled out the downward gap yet. At time of writing, the pair is trading at 1.4433, still 0.54% down on the day.

In the absence of first-tier data, markets focus remains on Federal Reserve Chair Yellen speech later on the session, as investors search for signs of a rate hike in June or July.

GBP/USD levels to watch

In terms of technical levels, resistances are seen at 1.4480 (Jun 6 high), 1.4580 (Jun 3 high) and 1.4687 (May 27 high). On the other hand, next supports could be found at 1.4343/31 (100-day SMA/May monthly low), 1.4299 (Apr 21 low) and 1.4270 (Apr 19 low).