Trading news

Still United Kingdom – Scottish vote “no” to independence – GBP higher

British Pound was bought across the board during yesterday and throughout the night, as markets were confident of a “no” result in the Scottish referendum. The official result was announced earlier this morning with supporters of the Union exceeding 55.4% of the voters.

GBP/USD traded as high as 1.6525 recording a 2-week high, trading temporarily above the 38.20% Fibonacci retracement resistance level (July’s high – September low) at 1.6486. The pair is now trading just above 1.6450 and the pair is looking quite bullish with oscillators corrected on the daily chart from the previous oversold areas. Technically if the pair manages to sustain a break above 1.6486 it should target 1.6621 (50% retracement level).
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EUR/GBP traded as low as 0.7819, a 14-months low and looking to challenge 2-years low down to 0.7750 and 6-year lows 0.7693 thereafter.

Japanese Yen was cornered across the board for another trading day. USD/JPY set new 6-year highs trading as high 109.45 earlier this morning, whereas EUR/JPY traded to 4-months highs to 141.21 at the same time.

Today’s economic calendar focus is on Canada, with Canadian Consumer Price Index being released at 12:30 GMT. Canadian dollar is now trading against U.S. Dollar at 1.0955 having reached 1.1070 earlier this month.

Friday, 19 Sep, 2014 / 8:39

Source : https://blog.hotforex.com/still-united-kingdom-scottish-vote-no-to-independence-gbp-higher/

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