GBPUSD technical view: Volatility starts to show prior Brexit referendum

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As time passes, uncertainty grows prior to Brexit referendum that is scheduled to take place the June 23 in the United Kingdom, and financial markets will be watching the latest surveys that will be released in the British media on the position of citizens about, prior this post-legislative referendum.

The British pound closed the week with slight, but volatile gains against the US dollar, driven not only by recent polls that favor the permanence of the UK in the European Union but also due to the recent and positive national economic data that favored to GBPUSD rallies.

Technically speaking, the pair moves very close to the 200 SMA at H1 chart, correcting the upward cycle done since the May 16th session, and it would be highly probable that the Cable perform a rebound to resume the overall bullish bias.

On the other hand, traders can not ignore recent events leading to Brexit referendum, because although technical levels tell us much about the GBPUSD, fundamental analysis will be key to trading without much risk in a Forex pair that, without a doubt, will be very volatile during the month of June.

The MACD indicator remains in negative territory, but favors a certain way to make a rebound, because the oversold area is being achieved.

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