FxWirePro: GBP/USD hits 3- month high, good to buy on dips

• Cable jumped sharply today in European session after a long consolidation. The pair was trading in narrow range between 1.3585 and 1.34582. It has broken major resistance at 1.3585 and jumped till 1.3620 level highest since Sep 2017. It is currently trading around 1.36152.
   
• Market eyes US CPI and retail sales data to be released today for further direction.
   
• The pair has taken support near 20- day MA at 1.3455 and any break below will drag the pair to next level till 1.3430/1.34020 (61.8% retracement). Short term bullish invalidation only below 1.3330. The near term support is around 1.3550/1.3500.
   
• The near term resistance is around 1.3655 (Sep 20th 2017 high) and any break above will take the pair to next level till 1.3700/1.3755. Bullish continuation only above 1.3650.

It is good to buy on dips around 1.3580 with SL around 1.353 for the TP of 1.3650/1.3700.

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