GBP/USD Trade idea

• Major resistance - 1.2435 (trend line joining 1.34450 and 1.27500).
   
• Cable breaks major trend line resistance at 1.2435 and jumped till 1.24719. It is currently trading around 1.24480.
   
• The pair upside capped by 61.8% fibo level and any break above will take the cable till 1.25100 (Dec 16th high)/1.25677.
   
• On the lower side, any break below 1.2414 (60-  day EMA) will drag the pair down till 1.23550 (23.6% retracement of 1.19860 and 1.24719)/1.2300.
  
  It is good to buy on dips around 1.2455-1.2460 with SL around 1.2415 for the TP of 1.2565

Resistance                                                                   

R1-1.24720

R2-1.2515

R3- 1.2560

Support      

S1-1.2414

S2-1.23550

S3- 1.2300