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• GBP/USD declined sharply on Tuesday as stronger dollar and slowdown in UK factory activity weghed on British currency.
•The S&P Global UK Manufacturing Purchasing Managers' Index edged down to 51.5 - matching the preliminary September estimate - from a more than two-year high of 52.5 in August..
•At GMT 15:28, the pair was trading down 0.77 percent at 1.3277, lowest since 23rd September.
• Technically RSI has dipped towards 50 level and positive momentum is fading.
• Immediate resistance is located at 1.3332( 38.2%fib), any close above will push the pair towards 1.3412(23.6%fib)
• Strong support is seen at 1.3267(50% fib) and break below could take the pair towards 1.3205 (61.8% fib).
Recommendation: Good to sell around 1.3280 with stop loss of 1.3380 and target price of 1.3200
