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FxWirePro: GBP/USD hits 7-month high on weak dollar, market jitters

• GBP/USD   hits seven  month high on Monday as  dollar weakened driven by   concerns over President Donald Trump’s intentions to restructure the Federal Reserve.

•  White House economic adviser Kevin Hassett said Friday that President Trump and his team are still exploring the possibility of firing Fed Chair Jerome Powell.

•  Trump’s broad tariff measures and ongoing trade policy uncertainty have shaken global markets and clouded the outlook for the U.S. economy.

•. At GMT 16:47, The pound  was last  trading up 0.67% to 1.3386 against US dollar

•   Immediate resistance is located at 1.3436(23.6%fib), any close above will push the pair towards 1.3487(Higher BB)

•  Strong support is seen at 1.3233(38.2%fib) and break below could take the pair towards 1.3064(50%fib).

  Recommendation: Good to buy  around 1.3350, with stop loss of 1.3280 and target price of 1.3470

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