• The GBP/USD pair strengthened on Wednesday as speculation that U.S. President Donald Trump could face the threat of impeachment triggered dollar sell-off across the board.
   
• News reports emerged on Tuesday that Trump had asked then-Federal Bureau of Investigation Director James Comey to end the agency's investigation into ties between former White House national security adviser Michael Flynn and Russia.
   
• The reports fueled questions over whether Trump could be charged with obstruction of justice, potentially opening the doors for an early exit from office.
   
• The ongoing upside is set to continue for this pair as the support level at 1.2846 is likely to act as strong barrier to the bears.
   
• To the upside, the strong resistance can be seen at 1.2991, a break above this level would expose the pair towards next resistance level at 1.3030.
   
• To the downside immediate support can be seen 1.2903, a break below at this level will open the door towards next level at 1.2846.
  
  Resistance Levels
  
  R1:  1.2960 (38.2% Retracement level)   
  
  R2: 1.2991 (Session high)
  
  R3: 1.3030 (23.6 % Retracement level)
  
  Support Levels
  
  S1: 1.2903 (50% Retracement level)        
  
  S2: 1.2846 (61.8% Retracement level)    
  
  S3: 1.2828 (May 4th lows)