2017.05.2309:18:00UTC+00Fxwirepro: Gbp/usd Forms Triple Top Around 1.3050, Good to Sell on Rallies

• Cable formed an almost a triple top around 1.30475 and declined slightly from the level on account of renewed worries over Brexit negotiations.
   
• GBP/USD shown minor profit booking after hitting 7- month high. The pair came down till 1.2950 and shown a minor recovery slightly from that level. On the higher side, any close above 1.30500 confirms bullish continuation and a jump till 1.3088/13120 likely.
   
• Cable major support is around 1.2950 (resistance turned into support) and any break below will drag the pair down till    1.2900/1.2860.Any short term weakness can be seen only below this level. Any violation below targets 1.2775 (daily Kijun-Sen)/1.2705.

It is good to sell on rallies around 1.3000 with SL around 1.3050 for the TP of 1.2950/1.2830.