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   “¢   The pair witnessed a modest intraday pull-back from 1-1/2 week tops, with bears now eyeing a follow-through weakness below 1.3200 handle or 23.6% Fibo. level of the upsurge over the past 24-hours.

   “¢   Highly oversold conditions on the 1-hourly chart turned out to be one of the key factors prompting some profit-taking ahead of the highly anticipated UK parliament vote on the PM May’s Brexit deal.

   “¢   Today’s UK macro releases – monthly GDP growth figures and manufacturing/industrial production data, seems unlikely to be a game changer but might still produce some short-term trading opportunities.

   “¢   Meanwhile, any subsequent decline is likely to find decent support near the 1.3160 confluence region – comprising of 200-hour SMA and 38.2% Fibo. level, and should help limit deeper losses.  

   “¢   On the flip side, the 1.3245-50 region, followed by the 1.3285-90 zone now seems to act as an immediate hurdle, which if cleared might extend the momentum towards multi-month tops, around mid-1.3300s.

GBP/USD 1-hourly chart


       Today Last Price:  1.3204
       Today Daily change:  52  pips
       Today Daily change %:  0.40%
       Today Daily Open:  1.3152
       Daily SMA20:  1.3073
       Daily SMA50:  1.298
       Daily SMA100:  1.2884
       Daily SMA200:  1.2986
       Previous Daily High:  1.3171
       Previous Daily Low:  1.296
       Previous Weekly High:  1.3269
       Previous Weekly Low:  1.299
       Previous Monthly High:  1.3351
       Previous Monthly Low:  1.2773
       Daily Fibonacci 38.2%:  1.309
       Daily Fibonacci 61.8%:  1.3041
       Daily Pivot Point S1:  1.3018
       Daily Pivot Point S2:  1.2884
       Daily Pivot Point S3:  1.2807
       Daily Pivot Point R1:  1.3229
       Daily Pivot Point R2:  1.3305
       Daily Pivot Point R3:  1.344