FxWirePro: GBP/USD rebounds strongly as dollar weakens broadly

• GBP/USD rose on Tuesday as greenback dipped data showed U.S. retail sales rose less than expected in September

• U Retail sales rose 0.2% after an unrevised 0.6% gain in August, the Commerce Department's Census Bureau said.

• The sales slowdown reported by the Commerce Department on Tuesday followed a long stretch of gains and marked a weak handoff to the fourth quarter.

• Retail sales increased 4.3% on a year-over-year basis. The report, originally due in mid-October, was delayed by the 43-day shutdown of the U.S. government.

•    U.S. producer prices, on the other hand, advanced in September, but that was in line with expectations.

• UK is braced for crucial UK budget announcements   from chancellor Rachel Reeves' tomorrow.

•   Immediate resistance is located at 1.3195( Daily high), any close above will push the pair towards 1.3246(50%fib)

•  Strong support is seen at 1.3147(38.2%fib) and break below could take the pair towards 1.3096(Daily low).

  Recommendation: Good to sell around 1.3180 , with stop loss of 1.3240 and target price of 1.2920