GBP/USD surrenders gains as Dollar regained bid tone

The GBP/USD pair surrendered gains to trade around 1.2180 levels as the bid tone around the American dollar strengthened in Asia. 

Clinton advisors are confident of victory

The dollar recovered Friday’s losses as the markets believe the FBI concerns are not seen tilting election victory odds in favor of Clinton. 

Moreover, the dollar was offered on Friday after the news broke out that the FBI has reopened the investigation of Clinton emails. However, Clinton advisors are unnerved by the whole episode and have maintained their election strategy unchanged. 

Markets have taken the heart from the fact that though the lead has narrowed; the early voter turnout was still in favor Clinton. 

GBP/USD Technical Levels

A break above 1.2215 (session high) would open doors for 1.2272 (Thursday’s high) beyond which psychological hurdle of 1.23 could be put to test. On the lower side, a breach of 1.2174 (Asian session low) could yield a test of 1.2149 (Thursday’s low), under which losses could be restricted around 1.21 handle.