Sterling has taken a beating on concerns over Scottish independence so Michael Hewson asks whether the pound is set for continued volatility and weakness.
- GBP/USD gapped hugely lower after a recent YouGov poll pointed to a lead for the ‘Yes’ campaign
- There is potential for sterling to test the $1.60 level which is both the 200WMA and the 50% Fibonacci retracement level of the long-term up move
- EUR/GBP is set to remain range bound as political/economic risks on both sides of the Channel look to cancel each other out
- Huge gains for the dollar have left USD/JPY with very few technical barriers as it targets ¥110
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Video content by Michael Hewson of CMC Markets.
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