GBP/USD is showing minor sell-off after hitting high of 1.31328. The pair is trading highly volatile on account of Brexit uncertainty. UK Brexit Secretary Dominic Raab has cancelled his next round of Brexit talks in Brussels. UK GDP growth for year 2019 has lowered by IMF to 0.2% is also putting minor pressure on Pound sterling. The pair hits low of 1.30282 and is currently trading around 1.30762.
On the higher side, major resistance is around 1.31280 (89- day EMA) and any break above targets 1.3175/1.32170. It should break above 1.3300 for further bullishness.
The near term support is around 1.3000 and any break below targets 1.2965/1.29000. Any violation below 1.27800 confirms bearish continuation.
It is good to sell on rallies around 1.3105-108 with SL around 1.3160 for the TP of 1.3000/1.2900.
