FxWirePro: GBP/USD set for a slump, shorts hold the advantage

• GBP/USD dipped On Monday   as dollar continued to firm on Friday's strong U.S. jobs data and an escalation in the Middle East conflict.

•  Dollar's gains followed a U.S. jobs report that showed the biggest jump in six months in September, a drop in the unemployment rate and solid wage rises.

• At GMT 15:17, the pair was trading down 0.31% at 1.3077, lowest September 12th .

• Technical signals bearsih as RSI is   at 41 , daily momentum studies  5, 9 and 10 DMAs are trending down.

•   Immediate resistance is located at 1.3430( 23.6%fib), any close above will push the pair towards 1.3458 ( Higher BB).

•  Strong support is seen at 1.3049(50%  fib) and break below could take the pair towards 1.3000(Psychological level).

  Recommendation: Good to sell around 1.3090 with stop loss of 1.3200 and target price of 1.3010