Very hard to get a grip on the moves right now. There’s willing buyers down below but they’re not being allowed to really take the price higher.
GBP/USD Daily chart 10 09 2014
The Aug 2009 line has been acting as resistance too and we still look like we could see a test of 1.6000 sometime soon.
EUR/GBP is feeling out resistance at 0.8035/40 and a break may see cable push lower.
All three government leaders are in Scotland today so we would be wise to expect some headlines that could chop the pound around a bit today. Even if it’s quiet on the headline front the UK press will be watching things in Scotland very carefully and will be passing judgement on how things went today, in tomorrow’s news. That is potentially a big risk event overnight tonight if it shows that the visits have gone down like a lead balloon.
