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• GBP/USD rose sharply on Monday as dollar fell report of narrower tariffs.
• Media report showed President-elect Trump is reportedly considering tariffs limited to critical imports, offering potential relief to countries fearing broader measures.
•Expectations of sweeping tariffs under Trump, potentially impacting global economies, have weighed on foreign currencies like the euro ,pound .
• At GMT 12:20, The British pound was last trading up 1.03% at $1.2540 to dollar.
• Immediate resistance is located at 1.2415(Daily high), any close above will push the pair towards 1.2487(50%fib)
• Strong support is seen at 1.2357(23.6%fib) and break below could take the pair towards 1.2323(Lower BB).
Recommendation: Good to buy around 1.2520, with stop loss of 1.2430 and target price of 1.2650
