The pre-exit poll low at 1.31388 has been reached
The GBPUSD has completed the election day lap. That is the low from the first exit poll at 5 PM ET on Thursday was at 1.31388. The low in the current bar just reached 1.31371. Lap up and down complete.
There has been some buying against the level. The current price is at 1.3154. The earlier low today reached that level. Having more trading above that level could see some shorts covering. However, overhead resistance is at the 200 hour MA at 1.32169. The price fall today moved below that MA level and has been able to stay below. PS the high price prior to the election day spike was up at 1.32285 making the 1.32169 to 1.32285 a topside resistance area to eye. It will take a move above that area to shake some of the bearishness to disappear.
On the downside, a break below the 1.31388 level will look toward the 1.30998 to 1.3111 area. That is home to swing levels from December 5 December 6 December 11. On December 12 (earlier in the election day), the price tried to hold that level on the dip, but fell below it and snapped higher into the election results. The low on December 12 reached to 1.30494
