GBPUSD – Heavy Selling From Scots Vote & Pin Bar
As we get closer and closer to the potential Scottish separation vote, the outlook looks more and more likely they will separate. This puts a bearish outlook on an already increasing bear trend.
Today the cable sold off heavy from the open following yesterday’s daily pin bar. The pair in fact closed right on the key support level at 1.6463 that we talked about in our member commentaries. This may indeed be an exhaustion bar, so watch for some potential buying interest.
If this level folds and no bids step in, the next support doesn’t come in till 1.6300, so watch for weak corrective pullbacks to get short.
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