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18 Sep 2014
GBP/USD hits 2-week highs as 'no' vote is priced in
FXStreet (Córdoba) - GBP/USD rose to its highest level in 2 weeks as markets are pricing in a 'no' in Scotland independence referendum.
As Scottish referendum unravels, investors rush to buy the pound as pre-voting opinion polls gave a slight lead to those in favor of remaining in the United Kingdom. The Scottish vote ends at 21:00 GMT but the unofficial estimated time of the result is around 7:00 GMT on Friday. First results are expected around 01:00 GMT.
GBP/USD rose more than half a cent within the last hour and reached a fresh 2-week high of 1.6386 in recent dealings. At time of writing, Cable is trading at 1.6373, exactly 100 pips or 0.59% above its opening price.
GBP/USD technical levels
In terms of technical levels, GBP/USD could find next resistances 1.6386 (intraday high), 1.6400 (psychological level) and 1.6465 (Sept 4 high). On the flip side, supports are seen at 1.6240 (10-day SMA), 1.6200 (psychological level) and 1.6161 (Sept 16 low).
As Scottish referendum unravels, investors rush to buy the pound as pre-voting opinion polls gave a slight lead to those in favor of remaining in the United Kingdom. The Scottish vote ends at 21:00 GMT but the unofficial estimated time of the result is around 7:00 GMT on Friday. First results are expected around 01:00 GMT.
GBP/USD rose more than half a cent within the last hour and reached a fresh 2-week high of 1.6386 in recent dealings. At time of writing, Cable is trading at 1.6373, exactly 100 pips or 0.59% above its opening price.
GBP/USD technical levels
In terms of technical levels, GBP/USD could find next resistances 1.6386 (intraday high), 1.6400 (psychological level) and 1.6465 (Sept 4 high). On the flip side, supports are seen at 1.6240 (10-day SMA), 1.6200 (psychological level) and 1.6161 (Sept 16 low).