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15 Sept 2014 GBP/USD Analysis

15 Sept 2014 GBP/USD Analysis

GBPUSD, GBP/USD, Pound, Cable, U.K, Britain, Scotland GBPUSD rebounds after gap weekend on risk of Scottish Independence

GBPUSD, GBP/USD, Pound, Cable, U.K, Britain, Scotland 1.624 level last seen as resistance in Oct 2013, support in Dec 2013 and Jan 2014

GBPUSD, GBP/USD, Pound, Cable, U.K, Britain, Scotland Cable stays below 1.627

A critical week for Cable ahead of the Scottish Independence vote as GBP/USD trades below 1.627. With the BOE only meeting on Thursday for the MPC to vote on rates and asset purchase policy changes, the risk mindset may incite traders to go bearish on the pound unless speculation occur that rate hikes may happen this week. The Daily chart rebound off 1.606 last week seems to have ended the bears on this pair but failing to close the gap from 2 weeks ago may see traders weigh the situation differently and not make their moves until Thursday. Resistance at 1.633, 1.64 look likely to be watched if the pair retests, with an eye for a stronger sell signal particularly if Scotland separates from the United Kingdom

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.

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