• GBP/USD rose on Tuesday as the dollar weakened ahead of the start of the two-day Federal Reserve policy meeting.
• The dollar has been under intense pressure this month from a range of factors including Washington's desire for a weaker currency and uncertainty over U.S. President Donald Trump's policymaking.
• The Trump administration's criminal investigation of Powell and an evolving attempt to fire Fed Governor Lisa Cook will also be in focus during the Fed's two-day policy meeting which starts on Tuesday.
•Figures from the British Retail Consortium on Tuesday showed that prices at major British retailers rose at the fastest pace in almost two years in January.
• Technical signals are strongly bullish as RSI is at 74, daily momentum studies 5, 9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.3792( Daily high), any close above will push the pair towards 1.3831(23.6%fib)
• Strong support is seen at 1.3669 (38.2% fib) and break below could take the pair towards 1.3537(50% fib).
Recommendation: Good to buy around 1.3750 with stop loss of 1.3680 and target price of 1.3800
