Forex Marketz Daily Forex News – Fully Markets Update
GBP/USD – 1.644
Investors could expect a continuing rise on the Sterling. Daily charts are shown a bullish trend continuing. Looking at the daily we see trading at 1.646. The support is in the range of 1.60 – 1.61. Resistance is ranging from 1.66 – 1.67.
Investors are cautioned to watch for volatility as shown in the M1 chart below.
Outlook for currency pair:
1. Scotland independence referendum vote is likely to end in favor of staying with England. This could strengthen the Pound against alternative currencies.
2. The U.S. Dollar is trading still at the highest in 14 months. This could weaken the Pound against the Dollar.
3. General economic concerns throw further uncertainty to both currencies.
