Cable extending gains as traders bet on “No”-vote

GBP/USD hit a high of 1.6385 earlier and dealers report that buying is coming mainly from leveraged names
Liquidity is expected to dry up soon, so we could see volatile moves in both direction
Given that short-term specs are now mostly long, downside looks more vulnerable
Key intraday support at 1.6345 and then 1.6300
Voting will finish at 22:00 BST
We will get the first numbers from 02:00 AM BST onwards
Final results are expected to arrive around 07:00 AM BST