• GBP/USD hit three-month low on Tuesday as sterling attracted sellers after data showed regular wage growth cooled.
• British wage growth excluding bonuses fell in the third quarter to its lowest in over two years, data released earlier in the day showed.
• Also weighing on sentiment, Bank of England Chief Economist Huw Pill stated that the labor market data indicated inflation pressures were still too high to meet the BoE’s 2% target.
• At GMT 16:31, the pair was trading down 0.91% at 1.2751, lowest since Aug 13th .
• Immediate resistance is located at 1.2824( 50%fib), any close above will push the pair towards 12911(SMA9)
• Strong support is seen at 1.2746(Daily low) and break below could take the pair towards 1.2679(23.6%fib).
Recommendation: Good to sell around 1.2760, with stop loss of 1.2820 and target price of 1.2700
