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GBP/USD trading at highest level in two weeks - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik points out that the GBP/USD has been climbing on Thursdayas the Scottish independence referendum proceeds, reaching so far a daily high of 1.6386.

Key quotes

"Market speculation inclines for a NO win in the ongoing poll about Scotland independence."

"The pair has breached the 50% retracement of this month fall, with the 1 hour chart showing a strong upward momentum which supports a continued advance, albeit risk of course, is quite high of headlines messing with technicals."

"In the 4 hours chart indicators are also biased higher in positive territory, with 20 SMA now converging with the 38.2% retracement of the same rally around 1.6250."

"It won’t be until Asian opening that the market will be closer to known the result which expectations of gains on a NO far more limited than the possible slide on a YES triumph. "

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