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GBPUSD has recovered more than 200 pips in two trading session . The pair hits high of 1.3138 and started to decline sharply from that level. The Brexit uncertainty is major factor for the steep fall.
UK Brexit secretary will be travelling to Brussels for next round of Brexit negotiations and Brexit summit to held on Oct 17th 2018. Pound sterling is expected to trade highly volatile till Brexit deal reached.
The near term major support is around 1.3000 and any break below targets 1.2965/1.2920/1.2860. It should break below 1.2780 for further weakness.
GBPUSD has shown a minor jump above 1.3109 (100- day MA) and shown a good selling. The pair should close above 1.3109 for further jump till 1.3175/1.3245.
It is good to sell on rallies around 1.3100 with SL around 1.3150 for the TP of 1.3000/1.2965.
