With the upcoming vote in Scotland on its independence, GBP/USD hasÂ fall off the cliff from 1.71 to 1.61 within a month.
On the daily Ichimoku chart, it seems that the trend remains pessimistic with no consolidation in place. Though it has bounce off a low of 1.6103 with immediate resistance at Â 1.6332
On the Ichimoku weekly chart, it is more optimistic with the uptrend remains intact. Current price range is inside the kumo which suggest that the trend is unconfirmed (pending vote results).
Kumo support extends all the way to 1.58 on the weekly chart.
1. We can wait for the results and if it breaks 1.64, that could be a good entry point.
2. If it fails to break through 1.64 after the results, it could be a short entry point.