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GBPUSD has recovered sharply more than 150 pips after release of UK jobs data. UK claimant rose by 20.8k in Dec and wage growth rose 3.4% highest in decade. Unemployment came at 4.0% compared to forecast of 4.1%. The pair hits high of 1.29277 and is currently trading around 1.29162.
UK PM proposed Plan B of Brexit which is almost similar to Plan A and she has excluded a second referendum and revocation of article 50.The new plan was to be passed in House of Commons on Jan 29th 2019.
On the higher side near term resistance is around 1.2930 and any break above targets 1.2965/1.3000. Any further bullishness only above 1.3000.
The near term resistance is around 1.2860 and any violation below targets 1.2800/1.2760.Major weakness only below 1.2660.
It is good to sell on rallies around 1.2960-65 with SL around 1.3000 for the TP of 1.2760.
