New IPSOS MORI poll shows a hung parliament is the most likely outcome

• A new IPSOS MORI poll says 25% expect a conservative majority and 33% expect a hung parliament with a Conservative majority.
• GBP/USD is trading 0.10% lower on the session at 1.2838.

GBP has moved lower in the past few hours or so on some general USD strength but this latest news will not help push sterling higher.

Since Nigel Farage stated his Brexit Party will not contest conservative seats won in the last election, GBP/USD has traded higher.

This new poll suggests a hung parliament is the most likely outcome but it has not been said who was surveyed and the size of the sample space.

The current 1-hour consolidation low stands at 1.2813 and a break lower would send the pair looking for lower support zones.

On the higher timeframes cable has formed a consolidation flag pattern as it seems we wait for more news on the election and Brexit.