Sterling plunged todaySterling plunged today, losing more than 1% against the dollar and euro, after a new poll shows for the first time that Scotland will vote for independence on September 18th referendum. The ‘yes’ camp is ahead with 51% not counting the undecided which pushed the British pound to its biggest fall since July 2013. Gbp/usd gapped lower on today’s open from 1.6330 to 1.6180 and continues to look week while eur/gbp opened at 0.8000 from 0.7930. On another front the German trade balance came in stronger than expected (22.2B from 17.3B) but the euro’s reaction was minimal.
The pair is gaining momentum but stalled just ahead of resistance at 0.8030. A break and close higher could open the way for further gains.
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