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19 Sep 2014
GBP/AUD volatility playing out around Scottish vote
FXStreet (Guatemala) - GBP/AUD is trading at 1.8296, up 0.36% on the day, having posted a daily high at 1.8316 and low at 1.8210.
GBP/AUD has been one of the most volatile Sterling crosses, with bulls in a tug of war targeting the 1.83 territory but denied by the bears. However, the fate of the pair in the short to medium term will fall into the hands of the 'Yes' and 'N'o voters around the Scottish event which is taking the headlines and the attention of traders from around the global market place in the FX space. There is consensus for a 'No' result currently and Sterling is overall bid across the board and sentiment is that the pound will return to pre debate levels. A yes vote will likely have catastrophic implications for the pound with the amount of uncertainty that is surrounding the health of Britain politically and economically and what the ramifications of a 'yes' result will be for the UK.
GBP/AUD levels
With spot trading at 1.8298, we can see next resistance ahead at 1.8316 (Daily High), 1.8326 (Yesterday's High), 1.8361 (Daily Classic R2), 1.8527 (Weekly Classic R2) and 1.8550 (Daily Classic R3). Support below can be found at 1.8262 (Weekly Classic R1, Daily Classic R1), 1.8235 (Daily Open), 1.8218 (Hourly 20 EMA) and 1.8210 (Daily Low).
GBP/AUD has been one of the most volatile Sterling crosses, with bulls in a tug of war targeting the 1.83 territory but denied by the bears. However, the fate of the pair in the short to medium term will fall into the hands of the 'Yes' and 'N'o voters around the Scottish event which is taking the headlines and the attention of traders from around the global market place in the FX space. There is consensus for a 'No' result currently and Sterling is overall bid across the board and sentiment is that the pound will return to pre debate levels. A yes vote will likely have catastrophic implications for the pound with the amount of uncertainty that is surrounding the health of Britain politically and economically and what the ramifications of a 'yes' result will be for the UK.
GBP/AUD levels
With spot trading at 1.8298, we can see next resistance ahead at 1.8316 (Daily High), 1.8326 (Yesterday's High), 1.8361 (Daily Classic R2), 1.8527 (Weekly Classic R2) and 1.8550 (Daily Classic R3). Support below can be found at 1.8262 (Weekly Classic R1, Daily Classic R1), 1.8235 (Daily Open), 1.8218 (Hourly 20 EMA) and 1.8210 (Daily Low).