• GBP/USD pair eased slightly on Wednesday as the pair lost bullish momentum after the pair succumbed to profit taking as Theresa May was set to take over as Britain's prime minister, easing some of the political uncertainty.
   
• However, the ongoing upside is set to continue for this pair as the support level at 1.3212 is likely to act as strong barrier to the bears and bring  rebound back towards higher in the short term.
   
• To the upside, the strong resistance can be seen at 1.3296, a break above this level would expose the cable to next resistance level at 1.3400.
   
• To the downside immediate support can be seen at 1.3212, a break below at this level will open the door towards next level at 1.3130.
  
  Resistance Levels
  
  R1:  1.3296 (38.2% Retracement level)
  
  R2: 1.3400 (23.6% Retracement level)
  
  R3: 1.3476 (June 30th high)
  
  Support Levels
  
  S1: 1.3212 (38.2% Retracement level)
  
  S2: 1.3130 (23.6% Retracement level)
  
  S3: 1.3000 (Psychological levels)