Chart in Focus: Daily GBPUSD
A bearish pin bar formed today in the GBPUSD, however, due to the potential for upcoming volatility with the Scotland referendum tomorrow, we see this pin bar as a bit of a 'coin toss'. Traders need to be aware of the potential for a spike in volatility ahead of tomorrows election, this could mean a whipsaw or potential short-covering. Overall, we are staying on the sidelines right now in the GBPUSD until this major event passes.
A bearish pin bar formed today in the GBPUSD, however, due to the potential for upcoming volatility with the Scotland referendum tomorrow, we see this pin bar as a bit of a 'coin toss'. Traders need to be aware of the potential for a spike in volatility ahead of tomorrows election, this could mean a whipsaw or potential short-covering. Overall, we are staying on the sidelines right now in the GBPUSD until this major event passes.
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