• GBP/USD hits six month high on Thursday as dollar weakened driven by concerns over President Donald Trump’s expansive trade barriers.
• Trump imposed a 10% tariff on most goods imported into the United States, along with significantly higher duties on a range of competing countrie..
• The new tariffs unsettled markets, raising concerns that a full-scale trade dispute could spark a severe global economic slowdown and drive up inflation.
•. At GMT 14:07, The pound was last trading up 1.24% to 1.3163against US dollar
• Immediate resistance is located at 1.3225(38.2%fib), any close above will push the pair towards 1.3360(23.6%fib)
• Strong support is seen at 1.3099 (50%fib) and break below could take the pair towards 1.2973(61.8%fib).
Recommendation: Good to buy around 1.3150, with stop loss of 1.3080 and target price of 1.3250
