• GBP/USD has shown a nice jump of more than 100 pips from fresh 7- month low of 1.30496 on account better than expected UK economic data. The office for national statistics said that growth in the three months to Mar was 0.2% comapred to previous estimate of 0.1%. The chance of rate hike in the month has increased due to upward revision of U Kgrowth data. GBP rose more than 110 pips from today’s low and hoits intraday high of 1.31832 and is currently trading around 1.31590.
   
• Technically near term resistance is around 1.3200 (support turned in to resistance) and any break above will take the pair till 1.3286 (20-day MA). The pair should close well above 1.3286 on dalily basis for further jump till 1.340/1.3470/1.350.
• On the lower side, near term major support is around 1.3060 and any break below will 1.3045 (trend line support)/1.3000.
• It is good to sell on rallies around 1.3205 with SL around 1.3285 for the TP of 1.3000.