GBP/USD halted its bearishness after a huge sell-off of more than 200 pips on Sep 21st 2018 after top EU officials rejected Theresa May chequer Brexit plan. The pair has recovered almost 100 pips from the low of 1.30556. The slight recovery was due to positive comments from Brexit minister Raab. German Chancellor Angela Merkel said that an agreement about Brexit could come in Oct. With no major economic data in UK markets eye US consumer confidence and fed monetary policy.
On the lower side, near term support is around 1.3090 and any violation below targets 1.3055/1.300. Any close below 1.3000 confirms further bearishness.
The near term major resistance is around 1.3175 and any violation above targets 1.3245/1.3300.
It is good to buy on dips around 1.3130-35 with SL around 1.3090 for the TP of 1.3300.
R1- 1.3175
R2 - 1.3245
R3- 1.3300
Support
S1- 1.3095
S2- 1.3050
S3- 1.3000
