• GBP/USD edged lower on Monday as traders awaited a speech from hawk-turned-dove Bank of England policymaker Catherine Mann and business activity data.
• Catherine Mann, known as the Bank of England's most hawkish MPC member, surprised investors last week by voting for a 50 basis point rate cut, despite previously supporting rate stability.
• Investors are awaiting key data releases this week, including GDP estimates for December, preliminary Q4 figures, and December industrial and manufacturing output.
• Immediate resistance is located at 1.2433 (38.2%fib), any close above will push the pair towards 1.2556(50%fib).
• Support is seen at 1.2359(Feb 6th low) and break below could take the pair towards 1.2271(23.6%fib.
Recommendation: Good to sell around 1.2410 with stop loss of 1.2480 and target price of 1.2360
