Where not to look during the election in the US, we saw record movements on the markets. Part of the movements, however, were definitely over reacted and for sure the limited liquidity helped. Currently, some pairs begin to stabilize what is especially seen in the quotations of the US dollar. Such a case in point is the GBPUSD, where all growth movement was adjusted to zero in the morning and the current price returned to the level from Tuesday.
Nearby local support is located at 1.2360 and strong support is only at the level of 1.2090. The next resistance is 1.2460, 1.2520. At this point any technical turn point on pair GBPUSD will only happen after breaking one of the levels 1.2090 and 1.2520.
