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GBP/USD witnessed good 200-pips movement so far this Wednesday’s Asian trading, as US Presidential election counting gets underway.

The southern states are seen tending towards President Donald Trump while the North still favors Joe Biden. Arizona swung towards the Democratic candidate, reinforcing hopes of a Blue wave win.

Therefore, the risk sentiment saw an upturn once again and weighed on the safe-haven US dollar, boosting the higher-yielding assets such as the GBP, S&P 500 futures etc.

The GBP bulls continue to find support from the progress in the Brexit negotiations.