GBPUSD was trading lower and lost more than 150 pips from yesterday’s high of 1.28396. The Brexit uncertainty and broad based US dollar buying are main reason for sell-off. Markets eye Tuesday’s vote in the House of Commons on the withdrawal agreement reached in EU. The pair hits low of 1.26580 and shown a minor jump till 1.27778. It is currently trading around 1.27717. US 10 year yield is declining sharply
On the lower side, near term support is around 1.2660 and any break below will drag the pair to next level till 1.2600/1.2560.
The major resistance is around 1.2835 and any violation above will take the pair to next level till 1.2900/1.2925.
It is good to sell on rallies around 1.2828-30 with SL around 1.2870 for the TP of 1.2730/1.2690.
