The ongoing vote count in the presidential election is also affecting the situation in the GBP/USD trading pair. An attempt by buyers to break beyond the previously formed [c] wave in the ending diagonal triangle was unsuccessful, and the price quickly returned within this model.

However, this doesn’t indicate anything definite. At any moment, the price could start rising again, driven by new election data. Therefore, the current situation should not be viewed as a guide for trading actions. It is recommended to wait until the election results are finalized and only then monitor how events unfold before making any trading decisions.

Recommendations: Stay flat.