The pound sterling got a boost after UK bookmakers raised the odds that PM Johnson will continue on post-election.
This comes after the Brexit Party said that it will not contest the seats that are currently held by the Conservative party. The move is aimed to give Johnson’s party a majority in the parliament.
The UK will be heading to the polls on December 12th.
GBP/USD Back at Resistance
Cable managed to rally, but the gains stalled near the price level of 1.2856. If this level holds, then it would mark a retest of the previously held support area.
A decline off this level will see the bearish trend resuming. The lower support at 1.2582 remains key to the downside.
