• GBP/USD rose above 1.2800 level on Wednesday as dollar weakened as investors worried about a U.S. economic slowdown and the potential impact of trade tariffs on the world’s largest economy.
• The U.S. imposed a 25% tariff on Mexican and Canadian imports and doubled duties on Chinese goods to 20%.
. • In his first address to U.S. lawmakers since taking office, Trump announced on Tuesday that additional tariffs would take effect on April 2, including "reciprocal tariffs" and non-tariff measures to address longstanding trade imbalances.
• The focus this week is on U.S. labor data, starting with ADP employment figures on Wednesday, along with Fed policymakers' remarks on future rate policy.
• At GMT 12:02, the pair was trading up 0.25% at 1.2826 its highest level since November 11th .
• Immediate resistance is located at 1.2851( 23.6%fib), any close above will push the pair towards 1.2889(Higher BB)
• Strong support is seen at 1.2766(Daily low) and break below could take the pair towards 1.2731(38.2%fib).
Recommendation: Good to buy around 1.2810, with stop loss of 1.2720 and target price of 1.2900
