8 September 2014

Today the news of Scotland independence vote had shaken the Pound.

EU moved range bound after a huge drop on last Thursday. More downside expected.
Daily - Previous day candle closed with a doji, below 8 lwma, RSI below 30.
H4 - Higher low and lower low, below 8 lwma, RSI below 30, below signal. W S1 at 1.2860, W S2 at 1.2770.

GU closed at 1.6320 on last Friday, opens today gap down at 1.6240 and drop subsequently to W S1 1.6180, almost 150 pips drop. More downside expected.
Daily - Previous day candle closed with a black hammer, below 8 lwma, below 200 EMA, RSI below 30.
H4 - Lower low, below 8 lwma, RSI below 30. W S1 at 1.6180, W S2 1.6050.