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GBPUSD is trading lower for more than 1 month on Brexit uncertainties. EU and UK has agreed to extend its Brexit deadline by 6 months till Oct 31st. UK PM May is to have talks with Labor and opposition party leader Corbyn today as Parliament returns from Easter break. The pair hits low of 1.29750 and is currently trading around 1.29833.
On the lower side, any close below 1.2965 (200- day MA) confirms major trend reversal and a dip till 1.2800/1.2770 is likely.
The near term resistance is around 1.3000 and any violation above will take the pair to next level till 1.3069 (20- day MA)/1.3110.
It is good to sell on rallies around 1.3000 with SL around 1.306 for the TP of 1.27770.
