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FxWirePro: GBP/USD gains some ground but outlook is bearish

• GBP/USD  strengthened on Monday  as U.S. dollar dipped  as investors turned their attention to the release later this week of key U.S. consumer inflation data.

• This week, an inflation reading in the U.S. ​and economic growth data for Britain will be parsed for more clues on how the economies ‌are ⁠holding up.

• British finance minister John Healey tried to set out a brighter vision ​for the economy ahead of ​the annual budget, ⁠in his first speech since taking office.

• Trading ​volumes on UK exchanges were well below their one-month average as U.S. markets were closed for ​a holiday..

•   Immediate resistance is located at 1.3560(SMA 20), any close above will push the pair towards 1.3593(50%fib)

•  Strong support is seen at 1.3495(38.2%fib) and break below could take the pair towards 1.3453(Lower BB).

  Recommendation: Good to sell  around 1.3560, with stop loss of 1.3650 and target price of 1.3480

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