GBPUSD DOWN MARGINALLY AS VOTING BEGINS
The GBPUSD pair is currently trading marginally down from the market open, with price earlier rejected at the 1.2977 level.
Aside from cross currency pair volatility coming from the ECB meeting today, the pair could remain range bound until 21:00 GMT, when the first results will be released.
Technically the pair retains a short-term bullish bias whilst trading above the 1.2930-40 level, with dip buying demand still being seen, despite the earlier retreat from 1.2977.
Moving to the H1 time frame chart, price still remains reasonably far above the 100 period moving average at 1.2910, with the monthly pivot slightly below at 1.2897.
Key technical levels to the upside today remain the psychological 1.3000 level, the May high at 1.3048, and the 1.3100 level.
To the downside, the monthly pivot at 1.2897 becomes key, with further scope to extend towards 1.2840 and 1.1270, once clearly trading below 1.2897.