It's not about Data now, It's all about ELECTIONS

Paun British / Dolar A.S. (FX_IDC:GBPUSD)

FX_IDC:GBPUSD Paun British / Dolar A.S.

GBPUSD traded completely on the idea I posted in my previous analysis, Now traders need to be cautious ahead of UK Parliamentary elections as volatility is expected today. If Conservative party wins then Sterling can extend it's rally and can move beyond 1.34 and if Labor party wins then the declines can exceed towards 1.2500 area where lies the 61.8% retracement of the move started on March 15. I would suggest to stay Neutral on pound and wait for the dust to be settled.

Good Luck..

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