GBP/USD enters quieter phase into Brexit vote final hours

The pound has entered a quieter phase over the last hours as Brits continue to vote EU membership, with final polls showing too close call outcome.

GBP/USD has remained fairly steady in a slim range around 1.4800 over the last hours, after the pullback from 2016 high of 1.4945 was contained by the 1.4740 zone. At time of writing, Cable is trading at 1.4815, 1.29% above its opening price.

The British currency benefited over the first trading hours in Europe amid hopes of a Bremain, but optimism has been faded as the day gows by.

Anxiety continues to creep in as investors await the results of the referendum. Reports suggest some polling stations have been forced to close due to the bad weather and floods. First results are expected around 00:00 GMT, but a reasonably clear picture should be from around 04:00 GMT on Friday.

GBP/USD technical levels

In terms of technical levels, immediate resistances are seen at 1.4945 (2016 high, Jan 23), 1.5000/07 (psychological level/Dec 17 high) and 1.5097 (Dec 16 high). On the other hand, supports could be found at 1.4680 (200-day SMA), 1.4641 (Jun 22 low), 1.4615 (Jun 21 low) and 1.4473 (50-day SMA).