Brexit Results - Leave In The Lead

Turnout favors Remain, but some key cities such as Swansea, a Labour stronghold, voted Leave. Cities voting Leave are generally hitting turnout of 70-80%, but areas with Remain wins are roughly 70%. If the polls were correct about the race being a toss up, this turnout advantage will translate into a win for Leave.

The pound has dipped, but only back where it was on June 17. If markets are going to react, there's still plenty of time to pile into bearish bets. The best time to short was when the media reported Nigel Farage's "concession" and markets looked to have hit a final euphoria high. Even if Remain won, I would have expected a decline from those levels on Friday. Now, however, the pound is down 5 percent off its high for the day, leaving plenty of risk if Remain pulls it out.

EU referendum live results — tracker

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