• GBP/USD climbed towards 1.3200 level on Monday as sterling attracted bids ahead of this week's UK inflation data and central bank meeting.
• Inflation figures, due for release on Wednesday, will be crucial data ahead of the BoE's policy announcement.
• The BoE is widely expected to keep interest rates unchanged this week after a 25-basis-point cut last month.
• At GMT 14:58, the pair was trading up 0.58% at 1.3198, its highest level since September 6th
• Immediate resistance is located at 1.3210( 23.6%fib), any close above will push the pair towards 1.3275(Higher BB)
• Strong support is seen at 1.3120(Daily low) and break below could take the pair towards 1.3095(38.2%fib).
Recommendation: Good to buy around 1.3180, with stop loss of 1.3070 and target price of 1.3280
