GBP/USD rallies on Trump lead, is Sterling a funding currency?

GBP/USD rallied to a session high of 1.2487 amid Trump lead, forcing us to question whether the British Pound is a new funding currency. 

As of now, the Trump lead is weighing over the risky assets. The S&P 500 futures are down 3%, while safe havens like gold and treasuries are on the rise. The Japanese Yen and Euro are rallying as well on haven/funding currency appeal. 

The rally in the British Pound amid Trump-led risk aversion suggests the currency’s new status - Funding currency. The pair was last seen trading around 1.2450 levels. 

GBP/USD Technical Levels

Key resistance levels - 1.2487 (session high), 1.2557 (Nov 4 high), 1.26 (zero figure)

Key support levels - 1.24 (zero figure), 1.2353 (session low), 1.2136 (Oct 21 low)