UK Pound failed to benefit from the better than expected construction PMI in addition to the upbeat UK manufacturing PMI. Markets await UK services PMI for further weakness.
The pair is facing major resistance around 1.29655 high made on Apr 28th 2017 and any violation above will take the pair till 1.3000. continuation can be seen only above 1.3000 level.
On the lower side, near term support is around 1.28500 and any break the support will drag the pair till 1.27549 ( Apr 21st low).
It is good to sell on rallies around 1.28500-1.2855 with SL around 1.2900 for the TP of 1.2780/1. 2750 .