• GBP/USD eased from 2 ½ year high on Wednesday as investors booked profits on recent rally.
• The pound eased by 0.30% to $1.3372 against dollar, ending a streak of five consecutive days of gains.
• The pound has rallied over 2% since the Fed's significant rate cut and the Bank of England's decision to hold rates last week.
• Technical signals are strongly bullish as RSI is at 70, daily momentum studies 5, 9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.3430( 23.6%fib), any close above will push the pair towards 1.3455 ( Higher BB)
• Strong support is seen at 1.3349(38.2% fib) and break below could take the pair towards 1.3284 (50% fib).
Recommendation: Good to buy around 1.3390 with stop loss of 1.2980 and target price of 1.3460
