GBP/USD drops to 1.2991, down 0.27% intraday, while heading into Wednesday’s London open. The Cable earlier surged to 1.3140, before bouncing off 1.2934, as updates from the US election polls keep the hopes of a blue wave on the table.
US President Donald Trump takes the lead in Florida but his rival Joe Biden has more seats, above 220 than his own 150+ mark. The same keeps the market players looking for a clear Democratic victory in the US houses, mostly cheered as a blue wave. GBP/USD traders eye a 100-day EMA level of 1.2890 as nearby support ahead of challenging a multi-day-old support line near 1.2880/75. On the contrary, bulls will be confident above 1.3140.