GBP review

And the winner of the U.K. election so far is: uncertainty. Today's much anticipated vote is considered the closest contest in decades. Incumbent David Cameron's Conservative Party is seen in a footrace with Ed Miliband's Labour Party for a majority stake in Britain's 650-seat parliament. 

Polls are set to close at 5 p.m. EDT and most election results could come in subsequent hours. The outlook for sterling remains about a muddied as the prospects for a timely verdict on who will occupy 10 Downing Street over the coming 5 years. 

Sterling is likely to adhere to its unpredictable path at least until the next administration can form a stable government which could potentially take days, maybe weeks. The longer political uncertainty flares, the more vulnerable the pound is seen.