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"A ‘yes' vote for independence would be cataclysmic. I expect that the impact on the pound would be swift and severe."
- Marshall Gittler, IronFX Global (based on MarketWatch)
Pair's Outlook
As GBP/USD has just confirmed the resistance at 1.6250, the Sterling should lose some ground in the nearest future. The first target will be the support at 1.61, represented by the monthly S3 level. Then, if the bears remain active, the 2013 Q4 low at 1.5850 will become the next objective. But in the long-term perspective, given the current downward momentum, the rate may attempt to re-test the 2013 low at 1.48.
Traders' Sentiment
The gap between the two camps is slowly narrowing, but there are still a lot more bulls (61%) than there are bears (39%). At the same time, the amounts of buy and sell orders placed 100 pips from the spot price are equal—51 and 49%, accordingly.
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