FxWirePro: GBP/USD trades below major 1.320 level, dip till 1.3100 likely

• GBP/USD has formed a temporary top around 1.36574 on Sep 20th 2017 after hawkish BOE statement on interest rate hike. The pair declined sharply for the past three days after weaker than expected UK PMI data’s.
   
• Pound plunges below 1.32 against dollar following May speech and hits one- month low at the time of writing. Any break below 1.3200 confirms minor weakness and any break below targets 1.3160 (Sep 12th low). A break below 1.3160 would drag the pair further down till 1.31060 (61.8% retracement of 1.27739 and 1.36574).
   
• Market eyes speeches by BOE policy makers McCafferty and Haldane. BOE chief economist Andrew Haldane recently said that rate hike would be good news and it is a sign that UK economy was healing. Any positive comments from Andrew Haldane will push the pound slightly higher.
   
• Minor bullishness can be seen above 1.3300 (4H Kijun-Sen and 34- 4H EMA) and any break above will take the pair to next level till 1.3350/1.34350. The minor resistance is around 1.3230/1.3280.

It is good to sell on rallies around 1.3255-1.3260 with SL around 1.3300 for the TP of 1.3160/1.3105.