GBP/USD Trade Idea

• Major support – 1.3087 (10-day MA).
   
• Major resistance- 1.3270.
   
• The pair has taken support near 5 –day MA (1.31650) and slightly jumped from that level. It is currently trading around 1.31985.
   
• Further, a decline in the cable can be seen only below 1.3085 (10-day MA).On the higher side, major resistance is at 1.3275 the temporary top formed on Aug 24th 2016 high and any break above targets 1.3310/1.3387 (55- day EMA).
   
• Short term weakness only below 1.3000.

It is good to buy on dips around 1.3170 with SL around 1.3100 for the TP of 1.3310/1.3380

Resistance

R1- 1.3275

 R2-1.3310

 R3-1.3380

Support

S1-1.3165

S2-1.3085

S3-1.3000