FxWirePro: Cable edges lower from session highs at 1.5311, good to buy dips

GBP/USD popped higher after upbeat UK Industrial Production data, spiking above the 1.53 handle.

• Data earlier showed that UK industrial production during August expanded at 1.0% and manufacturing production grew 0.5% m/m beating market expectations
   
• Cable hit 2-week highs at 1.5311 after data and has pared some gains to currently trade at 1.5288
   
• Strong resistance seen by 200 DMA at 1.5318, and support is located at 1.5226 (4h Tenkan)
   
• Momentum is bullish, breaks above 200 DMA could take the pair to 1.5380 levels (converged Kijun and 55 EMA)
   
• Daily Stochs show bullish cross over from oversold levels, RSI is also biased higher
   
• Markets await BOE decision due to be announced tomorrow, NIESR GDP estimate due later today could decide further momentum on the pair

Recommendation: Good to buy dips around 1.5280, SL: 1.5210, TP: 1.5375