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Short

GBP/USD-Intraday trade idea

FX:GBPUSD   British Pound / U.S. Dollar
203 2 8
Major resistance - 1.3203 (200 HMA ).

The pair has declined sharply till 1.31026 yesterday after BOE cuts interest rates by 25bpbs and adds its asset purchase facility by £60 billion to £435 billion from £375 billion. It is currently trading around 1.31330.

Any violation below 1.3100 will drag the pair down till 1.3060/1.3000 in the short term.

On the higher side intraday, bullishness can happen only above 1.3200.Overall bearish invalidation only above 1.3375.

It is good to sell on rallies around 1.3150 with SL around 1.3205 for the TP of 1.3060/1.3000
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