The GBP/USD has witnessed a good 200 pip movement so far this Asian session Wednesday, as the vote count continues in the US presidential election.
For now Southern states tend toward President Donald Trump, while North still favors Joe Biden. Arizona has leaned toward the Democratic nominee, bolstering hopes for a “blue wave.”
Thus, risk appetite has rebounded once again and has weighed on the safe-haven US dollar, driving higher-yielding assets such as GBP, S&P 500 futures, etc.
Sterling bulls continue to find support in the progress of Brexit negotiations.
At the time of writing, the pair GBP / USD is trading at 1.2997, still down 0.22% on the day. The pair is recovering from the daily lows of 1.2936.
GBP / USD technical levels
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Credits: Forex Street
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