The USD witnessed a “V-shaped” recovery in the last few minutes on the rising probability of Republican victory in the House. Â The GBP/USD is reporting moderate losses below the 100-day exponential moving average (EMA). The GBP/USD pair is currently trading at 1.3080, having clocked a session high of 1.3143 earlier today. The failure to hold above the 100-day EMA of 1.3096 is likely a result of the rising probability of Republicans taking control of the House. A Republican House, if confirmed, would be a surprising outcome, considering that the markets are expecting a split Congress – Dems to take House and Republicans to take Senate. A Republican victory in both Chambers may embolden Trump administration to push for more stimulus. In response, the Fed may have to push rates above the neutral territory to avoid overheating of the economy. Hence, the greenback is expected to rise on a Republican majority in both chambers. GBP/USD Technical Levels Resistance: 1.3096 (100-day EMA), 1.3143 (session high), 1.3215 (200-day EMA) Support: 1.3043 (Aug. 30 high), 1.3027 (5-day EMA), 1.30 (psychological level) FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Japan’s Suga: US mid-term election results won’t directly impact bilateral ties FX Street 3 years The USD witnessed a "V-shaped" recovery in the last few minutes on the rising probability of Republican victory in the House. Â The GBP/USD is reporting moderate losses below the 100-day exponential moving average (EMA). The GBP/USD pair is currently trading at 1.3080, having clocked a session high of 1.3143 earlier today. The failure to hold above the 100-day EMA of 1.3096 is likely a result of the rising probability of Republicans taking control of the House. A Republican House, if confirmed, would be a surprising outcome, considering that the markets are expecting a split Congress - Dems to take… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
