The weekend polls and press on the Scotland Referendum will determine the fate of the GBPUSD for Monday’s trading.
With the price ending the week at 1.62614, the pair is close to topside trend line resistance at 1.62814. That can be taken out in a hurry, if the “No” vote increases and see the pair move above the next resistance at 1.63465 and 1.6416.
On the downside, the pair moved below the 100 week MA at 1.60847 this week but rallied away from it over the last few days. Before that the 100 hour MA at the 1.61718 remains a key level. The 1.6000 is also still in play if the vote moves more toward the “Yes”. Most traders would be attracted to that level because it is a big round number that likely has some option significance. It also happens to be a huge level from some key technical tools. Find out why in the weekend technical review and preview video.