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Major support- 1.2920
GBPUSD continuing its weakness after a minor jump above 1.3000 level. The pair hits high of 1.30443 and lost more than 100 pips on account of broad based US dollar buying. It has declined till 1.28991 and is trading around 1.2091.
On the lower side, near term major support is around 1.29200amnd any break below confirms minor weakness, a decline till 1.28900/1.2850/1.2780 is possible.
The minor jump can be seen only above 1.3050 and any break above targets 1.3070 (55-day EMA)/1.3125.
It is good to sell on rallies around 1.2935-40 with SL around 1.2980 for the TP of 1.2785
