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11 Sep 2014
GBP/USD at fresh weekly highs - FXStreet
FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik points to the rise in the sterling today, following a release of an opinion poll showing that the 'no' vote in the Scottish independence referendum slightly prevails.
Key quotes
"That was enough to drive GBP/USD above the 1.6190 level, 23.6% retracement of its latest bearish run, and held above it ever since, standing now at fresh weekly highs."
"Way towards closing the gap is still long yet as long as above mentioned support, the pair can extend its advance up to 1.6280 area, 38.2% retracement of the same rally."
"Once above, 1.6320 price zone comes next."
"A leg down through 1.6190 on the other hand, will risk a deeper retracement, down to 1.6130/50 price zone in the short term."
Key quotes
"That was enough to drive GBP/USD above the 1.6190 level, 23.6% retracement of its latest bearish run, and held above it ever since, standing now at fresh weekly highs."
"Way towards closing the gap is still long yet as long as above mentioned support, the pair can extend its advance up to 1.6280 area, 38.2% retracement of the same rally."
"Once above, 1.6320 price zone comes next."
"A leg down through 1.6190 on the other hand, will risk a deeper retracement, down to 1.6130/50 price zone in the short term."