GBP/USD had shown a major recovery from the low of 1.3026 as Prime Minister Theresa May hinted at the weekend that she may be considering a cabinet reshuffle to reassert her authority. The pair tested the resistance around 1.3182 and is currently trading around 1.3138. Any break above 1.3182 will take the pair to next level around 1.3220/1.3250.
Support: 1.3100, 1.3060 & 1.3020 [100DMA].
Resistance: 1.3182, 1.3220, 1.3250 & 1.3290.
Trading Scenario:
Sell around 1.3182 [clear sell signal necessary] when the price retest this level with TP at 1.3100 and SL above 1.3220.