GBPUSD: Weak On Hung Parliament- Volatile State

Hi traders,

GBPUSD looks rather weak and volatile on the results of a hung parliament, and whilst the talks from Conservative to form a coalition will keep this pair volatile through the day.

On a technical perspective, GBPUSD did break a long term sidewards support and breakdown off a long term resistance line, so this could be a sign of more future downside? I guess we will soon all find out.

Best regards,
Tom_Killick

Comment:

With the election decision in place, we must watch this pair very carefully to see the outcome of the price action. Taking too many GBP pairs could prove too risky, so you must take GBP pairs, but make sure your portfolio is also diversified with other pairs to assure we have enough diversification required to make a healthy portfolio.

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