GBP/USD gives way to the bears and strong dollar post Trump

Currently, GBP/USD is trading at 1.2454, down -1.14% on the day, having posted a daily high at 1.2596 and low at 1.2450.

US elections resulted in dollar reset – Goldman Sachs

GBP/USD continues to be sold off and is down to test the 200 sma on the 1hr sticks at 1.2446 and penetrating the ascending support line from end of October's business at 1.2143. The theme remains with Trump and the Fed where expectations are for inflationary times ahead under a Trump presidency and tighter monetary policy in 2017/18 from the Fed, fuelling appetite for the greenback. 

US: What would it take for the Fed not to hike in December? - TDS

GBP/USD levels

Current price is 1.2454, with resistance ahead at 1.2481 (Hourly 100 SMA), 1.2524 (Daily Classic S1), 1.2525 (Yesterday's Low), 1.2532 (Hourly 20 EMA) and 1.2541 (Weekly Classic PP). Next support to the downside can be found at 1.2450 (Daily Low), 1.2449 (Daily Classic S2), 1.2439 (Hourly 200 SMA), 1.2415 (Daily 20 SMA) and 1.2408 (Weekly Classic S1).