The British Pound (GBPUSD) is under pressure as the Dollar is gaining against most of its peers. On the news wires comments by the Sun’s political editor claim that Boris Johnson will aim to table a motion on Monday to hold a general election. If they go ahead, then that could increase the uncertainty in GBPUSD as both Lib Dem and the Brexit Party could stand to snatch seats from both the Tory and Labor party. For more on this, watch the video below. For GBPUSD levels to watch scroll lower.
Technically, the trend in GBPUSD remains upwards for now, however, on the price trading below the 1.2812 level the trend will stop to be bullish and the GBPUSD might try to trade lower and reach the October 14 low in the days ahead.
If GBPUSD indeed manages to remain above 1.2812 then the price might revisit last week’s high of 1.3017, however, with the USD gaining vs. the Euro, Australian Dollar, New Zealand dollar, it seems likely that the GBPUSD will give up some of the last few week’s gains.