GBPUSD election day arrives

The British pound currency faces a pivotal trading day against the US dollar, as the United Kingdom goes to the election polls. Looking at the near-term upside potential for the GBPUSD pair, a breakout above the 1.3220 level could spark a rally towards the 1.3300 level. GBPUSD technical selling could accelerate towards the 1.2910 level if the psychological 1.3000 level is broken.

• If the GBPUSD pair trades below the 1.3080 level, key support is found at the 1.3000 and 1.2910 levels. 

• The GBPUSD pair is bullish while trading above the 1.3080 level, further upside towards the 1.3220 and 1.3300 levels still appears possible.