GBP/USD eyes 1.4950 as sentiment improves

The sterling remains unstoppable this week, now lifting GBP/USD to fresh peaks near around the mid-1.4900s.

GBP/USD stronger ahead of referendum results

Spot keeps its rally alive today, now up more than nine cents since last weeks lows in the 1.4000 area following latest poll results.

In fact, Ipsos-MORI poll results for the Evening Standard showed the ‘Remain’ option at 52% vs. 48% from the ‘Leave’ vote. Previously, bookmaker Ladbrokes reported 55% of bets placed so far favour the ‘Leave’ option.

The pair’s upside momentum remains sustained by high hopes of the UK staying member of the European Union, while continue to navigate levels last seen in December 2015 above 1.4900 the figure.

GBP/USD levels to consider

As of writing the pair is gaining 1.56% at 1.4937 and a break above 1.4948 (high Dec.25) would open the door for 1.5000 (psychological level) and finally 1.5240 (high Dec.11 2015). On the other hand, the immediate support lines up at 1.4676 (200-day sma) followed by 1.4477 (20-day sma) and then 1.4456 (55-day sma).