Sharp move in GBP-USD expected today - HSBC

Research Team at HSBC, sees four plausible reasons why there might be a sharp move in GBP-USD today.

Key Quotes

1. The private exit polls have produced evidence which, whilst close, appears “statistically significant”.

2. The private exit polls have produced overwhelming evidence.

3. The price action has been driven by non-speculative flows.

4. The price action has been driven by speculators; however, these speculators have no extra information and are simply making a call on the referendum outcome.

Whilst all four of these options are plausible explanations, only option 2 indicates an attractive trade opportunity. Sadly, this is the least likely of the four options.”