FxWirePro: GBP/USD edges lower,outlook remains bearish

• GBP/USD dipped on Monday as traders assessed energy prices and the outlook for central bank interest rates.

• The Bank of England, meanwhile, left rates unchanged on Thursday while signaling that prolonged conflict in Iran and tighter global energy supplies could prompt further rate hikes.

• Oil prices fell toward the psychological $100-a-barrel threshold, hitting an 11-day low as investors hoped for diplomatic progress on resolving the Iran war ahead of this week’s UN meeting.

•The US and UK economic calendars offer few major releases, with investors focusing on Flash PMI figures and speeches from central bank policymakers..

• Meanwhile, investors are awaiting this week’s meeting between US President Donald Trump and Chinese President Xi Jinping for signals on trade relations and the economic outlook..

•   Immediate resistance is located at 1.3403(50%fib), any close above will push the pair towards 1.3488(SMA20)

•  Strong support is seen at 1.3341(Lower BB) and break below could take the pair towards 1.34290(Lower BB).

  Recommendation: Good to sell  around 1.3380with stop loss of 1.4050  and target price of 1.3300