FxWirePro: GBP/USD positions for another climb, eyes 1.3000 level

• GBP/USD   climbed above 1.2950 level on Monday  as dollar weakened as traders cautiously awaited clarity on U.S. President Donald Trump's next round of tariffs..

•  UK Finance Minister Rachel Reeves will present a half-yearly budget update on Wednesday, with investors closely watching for potential market implications.

•  The UK finance minister is expected to unveil spending cuts in response to rising government borrowing, signaling a tighter fiscal policy ahead.

• The UK manufacturing PMI fell to an 18‑month low of 44.6 from 46.9 in February, as concerns over a global trade war sparked by Trump’s tariffs dampened expectations for future output.

•Preliminary reading of the UK S&P Purchasing Managers' Index (PMI) for the services sector hit a seven-month high of 53.2 in March, up from 51.0 in February.

•   Immediate resistance is located at 1.3004( 23.6%fib), any close above will push the pair towards 1.3105(Higher BB)

•  Strong support is seen at 1.2890 (38.2%fib) and break below could take the pair towards 1.2796(50%fib).

  Recommendation: Good to buy  around 1.2950, with stop loss of 1.2880 and target price of 1.3000