Sterling shorts squeezed on new ICM UK referendum polls

New ICM polls on the UK referendum conducted by phone calls were published late Monday UK time, revealing that 47% are in the “remain” camp while 39% in the “leave”.

While it is widely known that opinion polls can have a significant margin error, those conducted via phone calls are usually given more relevance. Since the result was a significant 'lead' in favour of the 'Remain', Pound shorts were caught off guard, resulting in stops being triggered across the GBP complex, with more GBP shorts to potentially come under pressure during London trade should 1.45 give in in GBP/USD.