GBPUSD has recovered slightly more than 80 pips from low of 1.27250 made yesterday after UK Chancellor Hammond suggested there will be Norway type of deal if Theresa’s May’s plan is blocked by parliament.The pair has lost almost pips in past three trading session on account of Brexit uncertainty, and trade tensions between US and China. The pair hits intraday high of 1.28061 and is currently trading around 1.27940.
On the higher side, near term resistance is around 1.2820 and any break above targets 1.2865/1.2925. The pair should trade above 1.29269 (Nov 22nd high) for further bullishness.
The near term support is around 1.2720 (Nov 15th low) and any break below targets 1.2695/1.26617.
It is good to sell on rallies around 1.2815-20 with SL around 1.2870 for the TP of 1.26650.
