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   “¢   The British Pound surged across the board amid the latest Brexit optimism, helping the pair to finally break through a two-week-old descending trend-line resistance.

   “¢   A strong momentum beyond 200-hour SMA adds credence to the bullish breakout, though overbought conditions on the 1-hourly chart hindered any further up-move.

   “¢   Disappointing UK manufacturing PMI gave traders another reason to take some profits off the table ahead of the latest BoE monetary policy update.  

   “¢   Technical set-up, however, favors an extension of the positive momentum and hence, any meaningful dips are likely to be bought into near the 1.2830 region.
 

GBP/USD 1-hourly chart

GBP/USD

Overview:
       Last Price:  1.2886
       Daily change:  1.2e+2  pips
       Daily change:  0.940%
       Daily Open:  1.2766
Trends:
       Daily SMA20:  1.3012
       Daily SMA50:  1.3015
       Daily SMA100:  1.3048
       Daily SMA200:  1.3441
Levels:
       Daily High:  1.2832
       Daily Low:  1.2699
       Weekly High:  1.3092
       Weekly Low:  1.2777
       Monthly High:  1.326
       Monthly Low:  1.2696
       Daily Fibonacci 38.2%:  1.2781
       Daily Fibonacci 61.8%:  1.275
       Daily Pivot Point S1:  1.2699
       Daily Pivot Point S2:  1.2632
       Daily Pivot Point S3:  1.2565
       Daily Pivot Point R1:  1.2832
       Daily Pivot Point R2:  1.2899
       Daily Pivot Point R3:  1.2966