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Pound bid as Scottish poll turns against independence

FXStreet (Bali) - GBP has seen a spike higher across the board, being paid as high $1.6270, as the latest YouGov poll results shows 52% "No" to Scottish Independence, throwing cold water to those GBP bears that saw a narrow "Yes" lead over the past weekend.

As Valeri aBednarik, Chief Analyst at FXStreet, notes: "The last session ended being a consolidative one, with the pair steady in the 1.6220/50 area where it stands ahead of Asian opening."

Technically, Valeria said: "The hourly chart shows indicators lost their upward potential heading lower above their midlines with 20 SMA also losing bullish strength now flat. In the 4 hours chart indicators are turning lower well above their midlines, which at this point leaves little room for a continued slide. The 23.6% retracement of the same rally stands a 1.6190 offering immediate support and it will take a break below it to deny the possibility of more recoveries and see the pair back towards 1.6150 in the short term."

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