Britain is to decide today its future. The nation’s citizens should make a wise decision on whether they should remain or leave the European Union.
The recent and latest polls indicated that both scenarios have equal chances of taking place.
What may happen next?
Will the British decide that their nation should exit from the EU or are they taking the decision to remain?
The ”Remain” and the ”Leave” campaigns highlighted respectively their opinions on why Britain should remain to be a member of the EU and why not.
Who’s right, though, in this case?
Will Britain risk a probable Brexit?
Will the British citizens ”risk” a probable Brexit where nobody would be able to predict, at least for the long-term, what the consequences would be for Britain?
On the other hand, Britain, as a member of the EU, came across unemployment and economic turbulence that brought instability and fear.
According to people familiar with the matter, the younger generation prefers Britain remaining in the EU whereas the elderly ones favour a Brexit.
Furthermore, the sterling’s movement is of great importance to mention. Where will the British currency move next, versus its other counterparts, in either scenario?
The latest price movements showed a strength of the sterling as the buyers hold strong, not letting the sellers take the lead.
The GBP/USD is currently holding strong close to the 1.4871 zone, following its previous rise from the 1.4658 level.
Similarly, the GBP/JPY pair climbed from the 153.43 area to the 158.00 level as the buyers were once again able to lead the price and hold it to upper zones.
The British pound also gained strength versus the euro with the pair having dropped from the 0.7700 level to the 0.7622 area.
At the current state of trading affairs, it seems that the traders and the investors are boosting the sterling higher, in an attempt to keep the currency stronger in the scenario of a Brexit.