• GBP/USD rose above 1.3200 level on Friday as dollar attracted sellers ahead of important speeches from the heads of the Federal Reserve and the Bank of England.
• Traders are awaiting Fed Chair Jerome Powell's speech later today at the Jackson Hole research conference, seeking clues about the potential scale of rate cuts.
• Bank of England Governor Andrew Bailey is also set to speak at the symposium at 1900 GMT.
• Technical signals are strongly bullish as RSI is at 75, daily momentum studies 5, 9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.3192( 23.6%fib), any close above will push the pair towards 1.3223( Higher BB)
• Strong support is seen at 1.3080(38.2%fib) and break below could take the pair towards 1.2985 (50% fib).
Recommendation: Good to buy around 1.3210, with stop loss of 1.3100 and target price of 1.3280.
