The UK PM is under pressure after 40 Conservative party MP are ready to sign a no confidence letter. Brexit Secretary dismissed EU’s 2- week deadline and highlighting the lack of progress in the Brexit talks.
The pair’s near term support is around 148.15 (55- day ) and any break below will drag the pair till 146.95/146.05 (50% fibo)/145. In the four hour chart pair is trading well below 233- MA- and 100- MA. This con firms minor trend weakness and a dip till 147/146 likely.
On the higher side, near term resistance is around 150 and any break above will take the pair to next level till 150.35/151/151.60. Overall continuation only above 152.86. The minor resistance is around 149.40.
It is good to sell on rallies around 148.35-148.40 with SL around 149.40 for the TP of 146.05/145.