pound rose sharply on Brexit deal hopes to pass on, focus on Voting tonight

Pound bounce to 1.32, heading towards 1.35?

Technical Overview: Pound currently at 1.3205, currently trading above the psychological level 1.32 and above the key support 1.3150. A break upside 1.3280 can test immediate resistance 1.3350 and 1.3430 further. Downside support lies at 1.3130 and 1.3030 further which could limit the day fall, one can enter in ever dip till 1.3150-30 for upside said targets.

Fundamental: GBP rose against USD by 1.04 percent yesterday while GBPINR depreciated by 0.82 percent. GBP rose against USD yesterday on account of news that fresh changes had been made to the deal between ERU and UK on the Brexit front. Meanwhile, the MP’s would be asked to vote on the deal today in the Parliament. However, EU has warned this is the last deal given to the UK and any other further changes to the deal will not be possible.

Suggestion: BUY GBPUSD TILL TILL 1.3150 FOR 1.3300/3330 ELSE SELL BELOW 1.3030 FOR 2950/2930

Important levels to watch:

Support Levels

S1: 1.3180 S2: 1.3130 S3: 1.3080

Resistance Levels

R1: 1.3250 R2:1.3280 R3: 1.3330

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