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GBP/USD jumped above 1.63 on Scotland elections start

FXStreet (Moscow) - GBP/USD jumped up as soon as the European markets opened, posting 1.6321 session high from 1.6245 Asian low.

Last test to pass

As the elections has just started, the pound shows some strengthening, jumping back above 1.63 area. However, everything may change in a second. The chances to see volatile session are quite high, as the initial data from the exit polls may be contradictory. The pound is still hesitant, as the Scotland Independence polls results showed practically equal number of No- and Yes-voters. The recent inflation data disappointed a bit, and the labor report gave a mild support, but the main test is going to be tonight, when the first voting results are out. The downside for the pair may be defended by 1.6229 support, and the nearest resistance to the upside may lie at 1.6340.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6294, with support below at 1.6229, 1.6183, and 1.6118, with resistance above at 1.6340, 1.6405, and 1.6451. Hourly Moving Averages are bullish, with the 200SMA at 1.6207, and the daily 20EMA bearish at 1.6388. Hourly RSI is bearish at 43.

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