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FxWirePro: GBP/USD trims losses but outlook still bearish

• GBP/USD  moved   the higher on Tuesday as investors digested UK employment and wages data and positioned ahead  of a pivotal  UK inflation report.

• A report on British inflation is set to be released on Wednesday, with the headline consumer price index anticipated to drop to 1.9%.

• At GMT 18:07, the pair was trading up 0.04 percent  at 1.3064 recovering from daily low at 1.3040.

•   Immediate resistance is located at 1.3094(38.2%fib), any close above will push the pair towards 1.3187(23.6%fib)

•  Strong support is seen at 1.3025(50%fib) and break below could take the pair towards 1.2958(Lower BB).

  Recommendation: Good to sell around 1.3060 , with stop loss of 1.3110 and target price of 1.2950

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