16 Sept 2014 GBP/USD Analysis


GBPUSD, GBP/USD, Pound, Cable, U.K, Britain, Scotland Cable above 1.62 ahead of Scottish Referendum

GBPUSD, GBP/USD, Pound, Cable, U.K, Britain, Scotland GBP/USD above 20 moving average after 1.6257 resistance

GBPUSD, GBP/USD, Pound, Cable, U.K, Britain, Scotland Pound in consolidative mood below 1.625

With the results of the Scottish Referendum not likely to be known until Friday morning (U.K time), the market is awash with speculation on the possible outcomes and its effect on the Pound Sterling. Technical analysis indicates likely bullish continuation after trading gap that occurred two weeks ago and optimism ahead of the BOE MPC meeting earlier on Thursday itself. Any bullish response is likely to contest 1.6310 resistance and a “NO” result may drive the pair back to the 1.64-1.65 region while “YES” will likely see Pound retest 1.59 – 1.567 region.

    Share Your Opinion, Write a Comment