The pair closed in NY Tuesday at $1.6106 after rate was seen struggling to hold intraday gains, seen on the back of positive UK IP{ data and a hawkish sounding BOE Carney, which had seen rate rally to a high of $1.6157. Rate was pressed to lows of $1.6060 during the NY afternoon, as euro-sterling again challenged key resistance at stg0.8037 before this move was rejected and cable recovered to $1.6126 before drifting off into the close. This corrective pullback extended in early Asia to $1.6100 before decent demand cushioned the move and allowed a recovery to $1.6139. However, the Scottish Independence referendum still overshadows sterling action and with polls showing the vote to be close provides a counter to any major upside correction (BetFair bettingfavours the No vote, no change from Tuesday afternoon with No at 2/5 and Yes at 9/4) cable drifted lower through the balance of Asia to hold around $1.6110 ahead of the European open. The stg0.8037 resistance level in the cross capped in NY, and again in Asia, with rate easing off to stg0.8019 before settling between stg0.8020/25 through the Asian afternoon. Cable support $1.6060/50, resistance $1.6140, $1.6157, $1.6187. UK MPC members at the TSC at 1345GMT.
