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7 Sep 2014
British Pound hammered on new Scottish poll result
FXStreet (Bali) - The British Pound is sinking across the board in the early inter-bank trading hours following the weekend Scottish independence poll result, in which for the first time, it shows the 'Yes' leading.
As Reuters reports: "Supporters of Scottish independence have taken their first opinion poll lead since the referendum campaign began, according to a YouGov survey for the Sunday Times newspaper. With less than two weeks to go before the Sept. 18 vote, the poll puts the "Yes" to independence campaign on 51 percent, with the unionists on 49 percent, overturning a 22-point lead for the unionist campaign in just a month..."
After closing some 20-30 odd pips above the 1.63 handle last Friday, on the back of a disappointing US NFP report, GBP/USD is presently trading at 1.6187, with the lowest so far printed at 1.6180. It is important to note that the early breakout of 1.6230 is a major bearish technical breakthrough if bears can manage to keep the rate below the level in upcoming sessions.
As Reuters reports: "Supporters of Scottish independence have taken their first opinion poll lead since the referendum campaign began, according to a YouGov survey for the Sunday Times newspaper. With less than two weeks to go before the Sept. 18 vote, the poll puts the "Yes" to independence campaign on 51 percent, with the unionists on 49 percent, overturning a 22-point lead for the unionist campaign in just a month..."
After closing some 20-30 odd pips above the 1.63 handle last Friday, on the back of a disappointing US NFP report, GBP/USD is presently trading at 1.6187, with the lowest so far printed at 1.6180. It is important to note that the early breakout of 1.6230 is a major bearish technical breakthrough if bears can manage to keep the rate below the level in upcoming sessions.