FxWirePro: GBP/USD trade Idea

• GBP/USD has shown a huge recovery after hitting weekly low at 1.2830 yesterday on account of positive UK economic data and is currently trading around 1.29377.
   
• UK Pound recovered after upbeat service PMI and added to this week’s better than expected manufacturing and construction PMI. Market awaits US NFP data for further direction.
   
• The pair is facing major resistance around 1.29655 high made on Apr 28th 2017 and any violation above will accelerate the up move to 1.3000. A follow through buying above 1.3000 will take the pair till 1.3060/1.3090.
• On the lower side, near term support is around 1.28500 and any break the support will drag the pair till 1.27549 (Apr 21st low).
• It is good to buy on dips around 1.2880 with SL around 1.2830 for the TP of 1.2960/1.3000.

Resistance
                   

R1-1.2965
                                                            

R2 -1.3000
 

R3- 1.3060
 

Support   
 

S1-1.2830
 

S2-1.2750

S3- 1.2680