GBP/USD: Trade ideas for Sep. 19

   Felipe Erazo

The GBPUSD is in the eye of the majority of traders for the session today, since Sept. 18 were voting on the referendum for the independence of Scotland. During the first hours of the Asian session today, the GBPUSD had a bullish momentum above 500 EMA on the H1 chart.

Now, it is very likely that this pair climb to the resistance level of 1.6575, where is located the 161.8 Fibo level extension. However, caution is advised much to put new buy orders, due to which it is not known with certainty the final result of this important referendum. The RSI indicator is in overbought zone.

Trading recommendations: We strongly recommend to no add new intraday long positions in the GBPUSD.

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