Charting Outlook June 21: GBP, EUR and this week’s big Brexit vote

This has the potential for be a volatile week for GBP forex pairs with the big UK Brexit referendum on Thursday. In recent days, USDGBP has gone from the bottom to the top of the trading range that has prevailed for the last six months, indicating a swing from pricing in a Leave win to pricing in a Remain win. With polls indicating a close race to the wire we could still see significant moves in both directions for GBP pairs. Euro traders have not been enthusiastic about a potential turnaround for Remain. Following last weekend’s wins by Euroskeptics in municipal elections and the opposition parties leading in Spanish polls, traders appear to recognize that uncertainty in Europe and unhappiness with the EU project reaches far beyond Britain. CMC Markets is a global leader in online trading, offering CFD and FX trading. Learn how to trade CFDs with our variety of educational videos on trading strategies. Trade the financial markets such as currencies, commodities, indices, companies and treasuries. Risk warning: This video is for general information only and is not intended to provide trading or investment advice or any personal recommendations. The information in this video is indicative, and may become out of date at any given time. CMC Markets shall not be responsible for any loss that you incur, either directly or indirectly, arising from any investment based on any information in this video. Any information relating to past performance of an investment does not necessarily guarantee future performance. Please remember trading CFDs carries significant risks and may not be suitable for all investors. Losses can exceed your initial deposit. We therefore recommend that you seek independent advice and ensure you fully understand the risks involved before trading. You do not own, or have any interest in the underlying assets. CMC Markets Canada Inc. is a member of the Investment Industry Regulatory Organization of Canada and Member-Canadian Investor Protection Fund / Membre-Fonds canadien de protection des épargnants. CFDs are distributed in Canada by CMC Markets Canada Inc. dealer and agent of CMC Markets UK plc. Trading CFDs and FX involves a high degree of risk and investors should be prepared for the risk of losing their entire investment and losing further amounts. CMC Markets is an execution only dealer and does not provide investment advice or recommendations regarding the purchase or sale of any securities. CFD and FX trading is available in jurisdictions in which CMC is registered or exempt from registration, and in Alberta is available to Accredited Investors only. Note that any references to CFD prices or price changes are sourced from CMC Markets' proprietary trading system Marketmaker™. CMC Markets' products are not available in the US or any other jurisdiction where they are not permitted to be used or provided.