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19 Sep 2014
GBP/USD retreated to 1.6460, as not everybody said “No” in Scotland
FXStreet (Moscow) - GBP/USD retreated from September highs at 1.6523 posted in Asia, currently trading around 1.6460.
When referendum is over
Thanks to the loyalty of Scottish people the pound managed to recover practically all the September losses, and is trading around 1.6460 area currently. The fact that some Scottish towns still voted “Yes” made the pair retreat from 1.6523. Now when we know what the future of Scotland is, the pound moves are dependant only on economic data again. The recent reports were not that bad. Coupled with the latest Carney’s hints on the possible term of the first rate hike, it may support the interest to the pound in the nearest term. Absence of significant events for today may leave the pair in narrow ranges with 1.6351 working as a nearest support, while the upside may be defended by 1.6514 resistance.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6456, with support below at 1.6351, 1.6293, and 1.6188, with resistance above at 1.6514, and 1.6619. Hourly Moving Averages are bearish, with the 200SMA bullish at 1.6229, and the daily 20EMA bearish at 1.6389. Hourly RSI is bullish at 50.
When referendum is over
Thanks to the loyalty of Scottish people the pound managed to recover practically all the September losses, and is trading around 1.6460 area currently. The fact that some Scottish towns still voted “Yes” made the pair retreat from 1.6523. Now when we know what the future of Scotland is, the pound moves are dependant only on economic data again. The recent reports were not that bad. Coupled with the latest Carney’s hints on the possible term of the first rate hike, it may support the interest to the pound in the nearest term. Absence of significant events for today may leave the pair in narrow ranges with 1.6351 working as a nearest support, while the upside may be defended by 1.6514 resistance.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6456, with support below at 1.6351, 1.6293, and 1.6188, with resistance above at 1.6514, and 1.6619. Hourly Moving Averages are bearish, with the 200SMA bullish at 1.6229, and the daily 20EMA bearish at 1.6389. Hourly RSI is bullish at 50.