GBP/USD down big for the second day
Political fortunes can flip overnight in a poll, and so currencies. Indications of a shift towards a Brexit have battered GBP since this time yesterday.
Cable selling is picking up into the London close and the pair is trading at a session low of 1.4392, narrowly below the 55-day moving average. The May low of 1.4333 is the next decent support level.
What's worrisome for cable bulls is that the US dollar was very weak today against EUR and JPY yet still managed to pummel the pound.
A poll from Handelsblatt today showed the referendum tied at 40%. Another drag on the pound was the lower OECD growth forecast but there was some good news in the Markit UK manufacturing PMI.
