The GBPUSD failed at 1.4987 and tumbled to a lower edge of its trading range 1.4800-1.5000 because of election risk. During the European session the cable dipped to 1.4750 despite the upward revision of the Q4 2014 GDP and a fall in Q4 current account deficit. later on today during the US session the pair managed to bounce off the current lows and returns back above 1.4800. If the pair holds recent gains we expect another test of the 1.4980/1.5000 level. [ url deleted ]