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10 Sep 2014
GBP/USD tumbled all the way down the stairs below 1.61
FXStreet (Moscow) - GBP/USD bumped into 1.6151 resistance in early Europe, failed to break higher and had to shuffle back below 1.61; it is trading at 1.6067.
Scotland to blame
The recent pound rebound was too fragile to last long. As soon as the pair reached selling interest around 1.6150, the sell-off resumed sending the pair back below 1.61 area. The market is getting nervous with all the Scotland Independence issue. As government leaders are in Scotland today, we can hear some comments on the situation. Any hints the authorities are trying to talk the Scotts into staying with the UK, and any comments on positive developments may support the pound again.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6108, with support below at 1.6057, 1.6009 and 1.5958 with resistance above at 1.6156, 1.6207, and 1.6255. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.6386, and the daily 20EMA bearish at 1.6497. Hourly RSI is bullish at 53.
Scotland to blame
The recent pound rebound was too fragile to last long. As soon as the pair reached selling interest around 1.6150, the sell-off resumed sending the pair back below 1.61 area. The market is getting nervous with all the Scotland Independence issue. As government leaders are in Scotland today, we can hear some comments on the situation. Any hints the authorities are trying to talk the Scotts into staying with the UK, and any comments on positive developments may support the pound again.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6108, with support below at 1.6057, 1.6009 and 1.5958 with resistance above at 1.6156, 1.6207, and 1.6255. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.6386, and the daily 20EMA bearish at 1.6497. Hourly RSI is bullish at 53.