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GBP/USD under pressure ahead of Brexit poll

Sterling turned lower from the high of 1.4426 levels and and fell to 1.4368 (38.2% of 1.5230-1.3835) levels, before recovering slightly to 1.4390 levels on the back of a rise in the US weekly jobless claims.

Data released in the US showed initial jobless claims in the last week rose by 11K to a two-month high of 276K. Consequently, the Brexit related sell-off stalled. The focus now is on Fed speak and regional Fed manufacturing indices release. Volatility in the pair is likely to remain high on account of Brexit fears.

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