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18 Sep 2014
GBP/USD wavers amid Scottish jitters
FXStreet (Córdoba) - Jitters about the Scotland referendum are dominating GBP/USD as the vote gets underway. Although latest polls gave the ‘no’ the lead, the threat of a break up of the UK is keeping the pound vulnerable.
GBP/USD jumped to a high of 1.6322 at the beginning of the European session, but failed to sustain gains and pulled back soon after, sliding to the 1.6265 zone. At time of writing, GBP/USD is trading at 1.6277, a few pips above its opening price.
Even though Scottish vote, which ends at 21:00 GMT, is the key event of the day, UK retail sales data could also provide some turbulence to sterling.
GBP/USD technical levels
In terms of technical levels, GBP/USD could find next resistances at 1.6322 (intraday high), 1.6357 (Sept 17 high) and 1.6380 (20-day SMA). On the flip side, supports are seen at 1.6232 (10-day SMA), 1.6200 (psychological level) and 1.6161 (Sept 16 low).
GBP/USD jumped to a high of 1.6322 at the beginning of the European session, but failed to sustain gains and pulled back soon after, sliding to the 1.6265 zone. At time of writing, GBP/USD is trading at 1.6277, a few pips above its opening price.
Even though Scottish vote, which ends at 21:00 GMT, is the key event of the day, UK retail sales data could also provide some turbulence to sterling.
GBP/USD technical levels
In terms of technical levels, GBP/USD could find next resistances at 1.6322 (intraday high), 1.6357 (Sept 17 high) and 1.6380 (20-day SMA). On the flip side, supports are seen at 1.6232 (10-day SMA), 1.6200 (psychological level) and 1.6161 (Sept 16 low).