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GBPUSD lost more than 100 pips yesterday on broad based US dollar buying. The pair hits low of 1.28675 and shown a minor recovery. The Brexit uncertainty remains major factor for Cable decline. Brexit deal is getting delayed due to Irish border issue and customs arrangement. It is currently trading around 1.28991.
On the lower side support is around 1.2860 and any violation below targets 1.2800/1.2785 low made on Sep 5th 2018. Any convincing break below 1.2785 confirms further weakness.
The near term resistance is around 1.2925 and any break above will take the pair to next level till 1.2970 (23.6% fib)/1.3000/1.3050. Minor bullishness only above 1.3050.
It is good to sell on rallies around 1.2925 with SL around 1.2965 for the TP of 1.2805.
