FxWirePro: GBP/USD trades on Brexit negotiations uncertainty, good to sell on rallies

• Major Resistance- 1.3550.
   
• Cable has shown a minor selling after forming a temporary top around 1.35498 on Friday. The pair is showing minor weakness on Brexit negotiation uncertainty. UK PM Theresa May is set to meet Claude Jucker EU commission president and will try to reach a deal on Brexit divorce. Cable declined till 1.34193 and is currently trading around 1.34371.
   
• The European Union says their working lunch in Brussels is the “absolute deadline for progress on separation issue. The talks will be on main three issues such as Irish border citizen’s right and divorce bill.
   
• The pair was facing strong resistance at 1.3550 and any convincing break above will take the pair to next level till 1.3600/1.3700 level. Short term bullish invalidation only below 1.3220.  the minor resistance is around 1.35000.
   
• On the lower side, near term support is around 1.3420 (38.2% fibo) and any break below will drag the pair to next level till 1.3400/1.3375. The minor weakness can be seen below 1.3375.

It is good to sell on rallies around 1.3465-1.3470 with SL around 1.3505 for the TP of 1.3400/1.3375.