• GBP/USD slipped lower dollar on Friday after data showed a key US inflation measure came in line with forecasts .
•US PCE price index rose 0.2% last month, following a 0.1% increase in June, and climbed 2.5% year-over-year, consistent with June's gain.
•Following the data, U.S. rate futures on Friday indicated a 31% chance of a 50 basis-point rate cut next month, down from 35% on Thursday.
• The pair has seen a 1.3130-1.3200 range, on Friday,it was last trading at 1.3142
• Immediate resistance is located at 1.3231( 38.2%fib), any close above will push the pair towards 1.3264( Aug 28th high)
• Strong support is seen at 1.3120(50%fib) and break below could take the pair towards 1.3074 (Aug 24th low).
Recommendation: Good to sell around 1.3150, with stop loss of 1.3210 and target price of 1.3080.
