GBPUSD hits 10 month high on optimism prevailing over Brexit deal. The pair hits high of 1.31435 and shown a minor decline after UK Labor party is to vote against any Brexit deal reached by Theresa May. Sadiq Khan mayor of London calls for second Brexit referendum is also putting pressure on GBP.
The broad based buying US dollar on trade tensions between US and China is supporting US dollar index. But overall trend of GBPUSD is still bullish as long as as 1.2965 holds.
On the lower side, near term support is around 1.3057 and any violation below will drag the pair down till 1.3000/1.2990 (200- H MA)/1.2965.
The near term resistance is around 1.3150 and any violation above targets 1.3180/1.3200.It should break above 1.3300 for further bullishness.
It is good to buy on dips around 1.3057-60 with SL around 1.2990 for the TP of 1.3200.
