GBP/USD briefly rises above 1.4700

GBP/USD stretched to fresh session highs during the New York session as the greenback continues to weaken across the board.

Two polls released over the weekend suggested the ‘remain’ camp is gaining ground ahead of Thursday’s UK referendum, which eased concerns over a potential Brexit and boosted the pound across the board. 

GBP/USD extended gains over the last hours, broke above the 200-day SMA and reached its highest levels since May 31  at 1.4706. However, Cable failed to consolidate above the psychological level and retreated slightly. It was last trading at 1.4674, recording a 2.29% gain on the day.   

GBP/USD technical levels

In terms of technical levels, immediate resistances could be faced at 1.4706 (Jun 20 high), 1.4738 (May 26 high) and 1.4769 (May 3 high). On the other hand, supports are seen at 1.4444 (50-day SMA), 1.4400 (psychological level) and 1.4352 (100-day SMA).