The Pound lost more than 450 pips yesterday, falling to its lowest level since April 2009, as UK voted in an election that may fail to produce a parliamentary majority for the first time since 1974. The main resistance on the one hour chart is located at 1.5000 as long it trades below this level a short position is preferred. Overall, GBP/USD traded with a low of 1.4659 and with a high of 1.5147. Today, Halifax HPI is expected to week from 1.1% to 0.6% and PPI Input is expected at 1.0% vs. 3.6% prior.

 GBP/USD - Last: 1.4834

Resistance

1.4935

1.5145

1.5330

Support

1.4795

1.4710

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