• GBP/USD firmed on Monday as dollar was pressured by President Donald Trump's erratic trade policies and a run of soft macroeconomic data.
• Bank of England is likely to hold interest rates on Thursday, sticking to gradual moves amid the impact of Trump's trade war and mixed UK economic data.d long-term inflation.
• Data published last week showed Britain's economy contracted unexpectedly in January but there was also a noticeable jump in public expectations for near- and long-term inflation.
•Investors will closely watch for any shifts in the views of MPC members, as some have expressed greater concern about the risk of persistent inflation than others.
• At GMT 09:27, the pair was trading up 0.10% at 1.2946.
• Immediate resistance is located at 1.2987( 23.6%fib), any close above will push the pair towards 1.3046(Higher BB)
• Strong support is seen at 1.2909(Daily low) and break below could take the pair towards 1.2853(38.2%fib).
Recommendation: Good to buy around 1.2930, with stop loss of 1.2820 and target price of 1.3000
