FxWirePro: GBP/USD pushes recovery envelope from seven-week low

• GBP/USD recovered on Monday   as dollar eased as investors focused on a potential U.S. government shutdown that could delay key economic data.

• Investors were primarily focused on the risk of a U.S. government shutdown if Congress does not approve a funding bill before the fiscal year concludes on Tuesday.

•On the data front, investors are awaiting data on job openings, private payrolls, and the ISM manufacturing PMI ahead of Friday’s employment report, which is expected to provide insight into the economy’s momentum.

• Meanwhile, In the UK, attention turns to Q3 GDP, while Bank of England Governor Andrew Bailey addresses an audience in Amsterdam on Friday.

. • At GMT 15:14, the pound was up  0.17% to 1.3422 against the dollar.

•   Immediate resistance is located at 1.3446(Sep 25th high), any close above will push the pair towards 1.3521(38.2%fib)

•  Strong support is seen at 1.3335 (50%fib) and break below could take the pair towards 1.3314(Lower BB)

  Recommendation: Good to buy around 1.3410  with stop loss of 1.3350 and target price of 1.3500