The pound sterling was seen trading subdued on Friday, capping a week which saw the currency posting gains. With the debate on the general elections set to take place this week, the currency pair has held out near the weekly highs. With lack of any economic reports coming out on the day, investors were seen focusing on geopolitics.
GBP/USD at Risk of Correcting Lower
GBPUSD saw the rally stalling on Friday. The currency pair was modestly trending lower on the intraday charts. Given the outcome of the developments in UK politics, the currency pair could turn volatile. The bias remains to the downside for the moment. GBPUSD is likely to test the support at 1.2170. Forming support at this level will likely reignite the upside bias.