• GBP/USD rose on Monday as the dollar declined across the board after U.S. President Donald Trump failed to push through a healthcare reform bill.
   
• The collapse of the healthcare legislation has raised doubts about Trump's ability to deliver on other key campaign pledges such as tax cuts and massive infrastructure spending.
   
• GBP/USD has been rising steadily since a Bank of England meeting on March 16 that saw a number of its members swinging towards concern over rising prices and its next move being a rise in interest rates to quell consumer inflation expectations.
   
• Further downside for this pair is expected to be limited as strong support at 1.2500 is set to limit more downside and push the pair towards higher side.
   
• To the upside, immediate resistance can be seen at 1.2631, a break above this level would expose the cable to next resistance level at 1.2681 levels.
   
• To the downside strong support can be seen at 1.2554, a break below at this level will open the door towards next level at 1.2500.
  
  Resistance Levels
  
  R1:  1.2631 (38.2 % Retracement level)
  
  R2: 1.2681 (23.6 % Retracement level)
  
  R3: 1.2732 (Dec14th high)
  
  Support Levels
  
  S1: 1.2589 (50 % Retracement level)                       
  
  S2: 1.2554 (61.8 % Retracement level)
  
  S3: 1.2500 (Psychological levels)