On one hand, the UK posted the strongest gain in Industrial output in 6 months and that has providedsome cushion to the Pound, but on the other hand polls continue to suggest that Scotland is poised to vote forIndependence. Given the break-neck declines in the Pound this month (down nearly 600 points) the Pound isshort term oversold. However, it might take news of official Scottish independence and a slide to theOctober/November 2013 consolidation lows below 1.60 before the Pound is seen as undervalued. Sell rallies to1.6160 in the September Pound.
