GBP/USD climbs to fresh highs amid UK elections

FXStreet (Córdoba) - The pound gained momentum across the board amid ongoing elections in the United Kingdom. GBP/USD broke above 1.5235 and rose to 1.5275 reaching a fresh daily high. The pair holds above 1.5250, near weekly highs. Volatility could increase in GBP pairs after the end of the American session and during the Asian session with the results of the elections.

Currently the pair trades at 1.5260, up just 20 pips from yesterday closing but headed toward the third daily gain in a row.

GBP/USD technical levels

To the upside, immediate resistance is seen at 1.5290 (May 6 high), 1.5300 and 1.5340. On the opposite direction, support levels could be located at 1.5205, 1.5160 (daily low) and 1.5110.