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8 Sep 2014
GBP/USD continues to suffer, threatens 1.6100
FXStreet (Córdoba) - GBP/USD continues to suffer amid worries of a yes vote in Scotland, having left a huge bearish gap at the weekly opening, and hit fresh 9-month lows in the vicinity of 1.6100.
For the first time, an opinion poll is giving the lead to the ‘yes’ vote in Scotland independence campaign. A YouGov survey put the ‘yes’ to independence at 51% against the ‘no’ at 49%.
Cable has lost more than 200 pips from Friday’s close, hitting its lowest level since November 2013 at 1.6102 so far. At time of writing, GBP/USD is trading at 1.6110, recording an impressive 1.3% loss on the day.
GBP/USD levels to watch
If GBP/USD breaks decisively below the 1.6100 mark, next supports are seen at 1.6072 (Nov 21 2013 low) and 1.6059 (Nov 19 2013 low). On the flip side, resistances could be found at 1.6232 (intraday high), 1.6300 (psychological level) and 1.6320 (Sept 5 closing price).
For the first time, an opinion poll is giving the lead to the ‘yes’ vote in Scotland independence campaign. A YouGov survey put the ‘yes’ to independence at 51% against the ‘no’ at 49%.
Cable has lost more than 200 pips from Friday’s close, hitting its lowest level since November 2013 at 1.6102 so far. At time of writing, GBP/USD is trading at 1.6110, recording an impressive 1.3% loss on the day.
GBP/USD levels to watch
If GBP/USD breaks decisively below the 1.6100 mark, next supports are seen at 1.6072 (Nov 21 2013 low) and 1.6059 (Nov 19 2013 low). On the flip side, resistances could be found at 1.6232 (intraday high), 1.6300 (psychological level) and 1.6320 (Sept 5 closing price).