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- Cable has jumped slightly almost 0.4% from the low of 1.40111 made on Mar 29th 2018. he pair is trading flat as London market closed on account of Easter Monday. GBP/USD jumped till 1.40703 at the time of writing. The jump was mainly due to US-china trade war. It is currently trading around 1.40640.
- Market eyes US ISM manufacturing data which is to be released for direction.
- Technically on the lower side, near term support is around 1.3990 (50- day MA) and any break below will drag the pair down till 1.3908/1.3880.
- The near term resistance is around 1.4100 and break above will take the pair till 1.4150/1.4220/1.4245. The pair should break above 1.4250 for further upside.
It is good to buy on dips around 1.4040-45 with SL around 1.3990 for the TP of 1.4145/1.4220.
