GBP/USD rally continues
Let's start with the assumption that a Brexit is dead.
Assume the vote loses and that most of the growth and investment that's been restrained in the first half of the year will return in H2. Then toss in Carney's usual Summer over-optimism and you have a pretty good case for buying the pound.
Buying the pound on a cross might be a better idea than GBP/USD but if everything comes together, it can do fine across the board.
It's all a matter of timing though. I think there's one last Brexit scare left and then a week or two before the vote it will start to climb.
For the moment, last week's high of 1.4663 is resistance. If that gives way, there's the prospect of a tough test of the May high and the 200-day moving average.
