GBP/USD bounces-off daily lows, regains 1.24 on Trump win

The GBP/USD pair is seen reversing a part of intraday losses, and now looks to extend gains back on 1.24 handle, as the USD rebound stalled after Trump became the 45^th US president.

The recovery in the major also gains traction amid a slight improvement in risk appetite, as markets assess the victory speech delivered by the new President-elect Trump and its implications.

With the US elections now behind, focus shifts to the UK trade balance data due later this session, while BOE MPC member Haldane’s speech will be also closely eyed.

GBP/USD: Technical levels:

Key Resistances: 1.2559 (post-NFP high), 1.2626 (Flash crash high), 1.2700 (round figure)

Key Supports: 1.2355 (Daily low), 1.2300 (zero figure), 1.2218 (Nov low)