Unemployment data came as expected which shows there is no damaging effect from brexit and sterling rallied almost 40 pips to 1.2640$ completing the recovery from yesterday's low at 1.2503$ . However the rally stalled at previous strong support , now a strong resistance, 1.2640$ area. The pair is expected to retrace from here to below 1.26$ again. If we break above 1.2660$ , we might reach as far as 1.2720$ You may risk going long from 1.2560$ area with stoploss on 1h candle close below 1.2540$ . Brexit news will remain the main catalyst for sterling moves and market volatility .
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