Short GBP/USD at 1.4480 - Westpac

Research Team at Westpac, opens a short GBP/USD here at 1.4480 with a stop at 1.4640.

Key Quotes

“Polls validating last week's observation that, "GBP arguably getting ahead of itself in pricing out Brexit risks". GBP likely to become exclusively poll in coming weeks, if it isn't already. Our best guess is that the Brexit/uncertainty premium puts GBP fair value nearer 1.40-1.42 where it's worth a buy. Base case is for a commanding "Bremain" win, in similar vein to the UK general election and the Scottish independence votes, where polls proved to badly understate support for the "status quo". Dips into the low 1.40s to be bought but only closer to June 23.”