GBP/USD heads lower as we wait to hear who is replacing House Speaker Bercow

As we wait to hear who will replace John Bercow as the house speaker GBP moves lower.
Lindsay Hoyle leads after first Speaker ballot and Dame Eleanor Laing is in second place.

Rajan Dhall, MSTA FX Daily

GBP/USD is been trending lower throughout the session as the dollar has been grinding higher.

On the thirty-minute chart below, it seems that price has bounced off the 1.29 level but it still looks vulnerable.

Later in the session, we would see some more volatility as the ECB's new President Lagarde is speaking.

On the daily chart, GBP/USD is at relatively high levels and it seems that breaking 1.30 was too much of a push.

Now over the longer term, we will we waiting to hear more about the UK general election which is on December 12th.

On the polls, the Conservatives are in the lead with Labour second and Lib Dems holding the third spot.

Aditional levels

GBP/USD

Overview
Today last price	1.2908
Today Daily Change	-0.0028
Today Daily Change %	-0.22
Today daily open	1.2936

Trends
Daily SMA20	1.2741
Daily SMA50	1.2492
Daily SMA100	1.2442
Daily SMA200	1.2712

Levels
Previous Daily High	1.2973
Previous Daily Low	1.2926
Previous Weekly High	1.2976
Previous Weekly Low	1.2804
Previous Monthly High	1.3013
Previous Monthly Low	1.2194
Daily Fibonacci 38.2%	1.2944
Daily Fibonacci 61.8%	1.2955
Daily Pivot Point S1	1.2917
Daily Pivot Point S2	1.2898
Daily Pivot Point S3	1.287
Daily Pivot Point R1	1.2964
Daily Pivot Point R2	1.2992
Daily Pivot Point R3	1.3011

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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