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Home / Analytics / Forex analysis & forecasts / Forex Fundamental analysis / The Pound fell again. Overview for 06.06.2016
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The Pound fell again. Overview for 06.06.2016

06.06.2016
The GBP/USD pair got under pressure again after they published the results of another surveys relating to brexit.

At the beginning of the week, the British Pound is under pressure again, and it’s no surprise – the closer the brexit referendum date is, the more people are worried about it. The current quote for the pair is 1.4404; the daily decline is more than 07/%.

At the beginning of the week, two British surveys were published at once. The first survey, YouGov, which featured 35 hundred people, showed that 45% of the pollees were in favor of the UK’s exiting the European Union, and 41% were against it. The second one, TNS, with a bit more than 12 hundred people, had the following results: 43% are in favor of exiting, 41% are against, and 11% have no opinion.

As we can see, the results are too mixed. Only one thing is clear: brexit topic make British people nervous and worry. The referendum is set to take place on June 23rd this year.

As one have previously stated on a number of occasions, the biggest concern of the British people relating to brexit is possible financial problems the country might face in case it exits the EU. Probably, the UK will have to reconsider its exchange and economic relations with former partners, and, probably, handle the Scotland problem. All this will cost a lot of money, which the British people don’t like to waste.

The biggest pressure of the Pound will probably occur one week prior to the referendum. Right now, the national currency is trading at the downside border of the mid-term channel, but “bears” have already defined their target at 1.4275.
 
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