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GBP/USD was trading higher and jumped more than 6% from low of 1.23730 due to Brexit uncertainty. UK PM May has lost Brexit vote in House of Common by 230 votes but won No confidence vote in narrow margin. The pair hits high of 1.3135 at the time of writing and is currently trading around 1.30880.
GBP was trading higher against all majors on news that DUP privately agreed to support UK PM Theresa May’s Brexit deal next week if there any specific time limit on the backstop.
On the higher side, near term resistance is around 1.31500 and any violation above will take the pair to next level till 1.3230/1.3300. Any major bullishness can be seen only above 1.3300.
It is good to buy on dips around 1.3045-50 with SL around 1.2980 for the TP of 1.3230/1.3300.
