• Cable is trading in narrow range between 1.2616 and 1.23650 for the past 12 session. GBP/USD spiked above 1.25 pschycological resistance after better than expected U.K jobs report. According to the report , UK average weekly earnings recorded a stronger than expected growth of 2.3% for three months compared to 2.2%.
   
• The pair declined after a jump till 1.25170 and is currently trading around 1.24925.The minor bullishness can be seen above 1.2640 (200- day MA). The near term resistance is around 1.2550-55/1.2600.
   
• On the lower side, near term support is around 1.24800 (100- day EMA) and any break below will drag the pair down till 1.2430 (21- day EMA)/1.2400/1.23650 (Apr 7th low).
   
• Short term bearish invalidation only above 1.2706.
  
   It is good to sell on rallies around 1.2500-1.2505 with SL around 1.2580 for the TP of 1.2430/1.2375.