FxWirePro: GBP/USD attracts selling interest, vulnerable to more downside

• GBP/USD edged lower on Thursday after Bank of England policymaker Swati Dhingra adopted a dovish tone.

• Bank of England policymaker Swati Dhingra said on Thursday that higher U.S. tariffs on imports are weighing on global growth, which in turn is impacting the U.K. economy.

• Dhingra   known for her dovish stance on monetary policy   said excessively high borrowing costs risk discouraging business investment, which could limit productivity gains and fuel structural inflation over time.

•Data released Wednesday showed UK inflation stable in September, surprising markets and the BoE. Analysts now anticipate a slowdown in price growth, suggesting inflation may have peaked.

•Following the data, investors raised bets on monetary easing, assigning about a 75% probability that the BoE will cut rates by 25 basis points by December

•   Immediate resistance is located at 1.3363( 50%fib), any close above will push the pair towards 1.3400(SMA 20)

•  Strong support is seen at 1.3268 (38.2%fib) and break below could take the pair towards 1.3241(Lower BB).

  Recommendation: Good to sell around 1.3350, with stop loss of 1.3450 and target price of 1.3280