• GBP/USD steadied on Friday as investors drew relief from Wednesday’s UK Budget.
• Britain’s finance minister on Wednesday rolled out a budget packed with tax increases to provide greater scope for meeting borrowing goals.
• The decision was shaped by over £26 billion in additional taxes, coming just a year after £40 billion in hikes were imposed by Reeves, the biggest rise since the 1990s, despite initial assurances it would be a one-off.
• At GMT 16:50 the pair was last up 0.01% at $1.3238 . it is up around 0.85% for the week so far, on track for its biggest weekly gain since early August.
• Meanwhile, investors were on the lookout for updates on an outage at the world's biggest exchange operator, CME Group, which hit trading on currency and futures in the U.S. on Friday.
• Immediate resistance is located at 1.3278( 50%fib), any close above will push the pair towards 1.3300( Psychological level)
• Strong support is seen at 1.3165 (38.2%fib) and break below could take the pair towards 1.3140 (SMA 20).
Recommendation: Good to buy around 1.3200, with stop loss of 1.3130 and target price of 1.3300
