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- GBP/USD continuing its rally and hits level highest since Aug 4th one month high after breaking major resistance 1.310 level yesterday. Cable jumped till 1.32172 at the time of writing. It is currently trading around 1.32192.
- The rise in Pound is supported by weak U.S data and solid UK Industrial and Manufacturing production and trade balance.
- Intraday trend is bullish as long as support 1.3150 holds. Any break below this level will drag the pair down till 1.3100 (hourly Kijun –Sen)/1.3075 (55- H EMA). Minor weakness can be seen only below 1.300 level.
- On the higher side, 1.3220 will be acting as near term resistance and any beak above targets 1.3268/1.3300.
It is good to buy on dips around 1.3150- 55 with SL around 1.30980 for the TP of 1.3265.
