GBP/USD recovers losses as Trump regains lead in Florida

GBP/USD regained poise on reports Trump has regained lead in Florida.

With 91% of votes in, Trump is leading the way with 49.1% of the vote compared to 47.9% for Clinton.

Trump was on the back foot an hour ago, which led to a sell-off in the GBP/USD pair to 1.2353 levels. However, the currency is back to in the positive territory; now trading around 1.2390 levels.

It is worth noting that the British Pound is increasingly behaving like a funding currency – rising on Trump lead and falling on Clinton lead.

GBP/USD Technical Levels

Key resistance levels – 1.2424 (5-DMA), 1.25 (zero figure), 1.2557 (Nov 4 high)

Key support levels – 1.2326 (10-DMA), 1.2171 (Oct 21 low), 1.2082 (Oct 25 low)