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

• GBP/USD slipped lower  on Monday as stronger greenback offset upbeat  UK GDP data.

• U.S. President Donald Trump’s nomination of Warsh as Fed Chair sparked a sell-off in risk assets and pushed precious metals lower on Friday, while the dollar rebounded..

• Britain’s economy expanded more than expected in November, supported by a return to full production at Jaguar Land Rover following a cyberattack that disrupted the carmaker and its suppliers.

• Gross domestic product rose 0.3% month-on-month   the fastest pace since June   after contracting 0.1% in October, official data showed on Thursday.

•  Investors continued to almost fully price in two quarter point interest rate cuts by the BoE this year.

•   Immediate resistance is located at 1.3692(50%fib), any close above will push the pair towards 1.3812(Jan 30th high)  

•  Strong support is seen at 1.3564(50%  fib) and break below could take the pair towards 1.3539(SMA 20).

  Recommendation: Good to sell around 1.3650 with stop loss of 1.3740 and target price of 1.3550