Investing.com - The pound rose against the dollar on Wednesday after investors felt the currency had fallen to far on fears Scotland may break away from the United Kingdom, though gains were cautious due to uncertainty surrounding the fallout would have on the English economy.
In U.S. trading on Wednesday, GBP/USD was up 0.21% at 1.6139 up from a session low of 1.6053 and off a high of 1.6169.
Cable was likely to find support at 1.6053, the session low, and resistance at 1.6233, Monday's high.
The pound has come under heavy selling pressure after a weekend YouGov/Sunday Times found that 51% in Scotland favored voting for independence from the U.K. in a referendum set to take place on Sept. 18.
Another poll is due out Wednesday evening, though bottom fishers snapped up nicely-priced positions ahead of time in a session void of major economic indicators on both sides of the Atlantic.
Elsewhere, Bank of England Governor Mark Carney said earlier that the point at which interest rates will need to rise has moved closer.
Speaking in front of Parliament’s Treasury committee Carney also said the BoE has a contingency plan to support financial stability in the U.K. if Scotland votes for independence, which added to Wednesday's gains.
Elsewhere, sterling was up against the euro, with EUR/GBP down 0.49% at 0.7995, and up against the yen, with GBP/JPY up 0.74% at 172.29.
On Thursday, the U.S. is to produce its weekly report on initial jobless claims.