GBP/USD falls by more than 100 pips

GBP/USD falls by more than 100 pips

The reports that the UK Prime Minister Boris Johnson would table a motion for general election pulled the British pound down. At the moment, the cable is testing the ground below the 50-period SMA. Bears are focused on reaching the 1.2747 support level. Bulls will need to push the pair above the 1.2834, 1.2864 and 1.29 levels to test the resistance at 1.2926. After that, buyers may focus on the 1.2980 level.

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