• GBP/USD rose sharply on Friday as the pound rebounded against greenback on holiday-shortened week.
• Investors' focus in the new year will be on President-elect Donald Trump's return to the White House, as investors remain uncertain whether Trump could extend his tariff threats to Britain as well..
• The focus will also remain on the Bank of England's pace of interest-rate cuts, with the central bank already suggesting a gradual pace for its policy-easing cycle.
• Immediate resistance is located at 1.2593(Daily high), any close above will push the pair towards 1.2632(38.2%fib).
•Support is seen at 1.2500(23.6%fib) and break below could take the pair towards 1.2471(Lower BB).
Recommendation: Good to buy around 1.2540 with stop loss of 1.2400 and target price of 1.2630
