Josh Mahony from IG sounded bullish on pound as he believes a 'In' vote would come out victorious at the June 23 meeting. Mahony said people would generally move towards less riskier option as referendum nears; which in this case means 'remain vote'. Mahony also shifted attention to latest FT poll, which showed 'remain' vote in lead and increase in 'undecided' vote count (to 14%).
Speaking on Technicals, Mahony pointed out the GBP appears oversold and the sell-off in GBP/EUR may have run its course, given the pair achieved head and shoulder breakout target. He also took note of a bullish break from the falling trend line on the GBP/USD daily chart.