• GBP/USD eased on Tuesday as greenback recouped some of its losses as markets awaited U.S. economic data.
•Markets are eyeing the upcoming U.S. jobs report, Q1 growth estimates, and core PCE data the Fed’s preferred inflation measure as key drivers.
• Markets have steadied recently on hopes of U.S. trade deals, particularly with China, but uncertainty around Sino-U.S. talks continues to unsettle investors.
• On the monetary front, investor focus has turned to the Bank of England, with growing expectations that it will lower interest rates by 25 basis points to 4.25% at its upcoming May policy meeting.
• At GMT 11: 30, the pound was last trading down 0. 33% at 1.3386 to dollar
• Immediate resistance is located at 1.3443 (23.6%fib), any close above will push the pair towards 1.3555 (Higher BB)
• Strong support is seen at 1. 3285 (April 28th low) and break below could take the pair towards 1. 3236 (38. 2%fib).
Recommendation: Good to buy around 1.3330, with stop loss of 1. 3280 and target price of 1.3380
