FxWirePro: GBP/USD stays below 1.31, scope for further downside

• GBP/USD eased on Monday as   investors prepared for a torrent of economic data from Britain, starting with employment reports on Tuesday.

• The consumer price index for September is scheduled on Wednesday, and economists surveyed predict core CPI to decline to 3.4% on an annual basis. 

•Producer price figures are scheduled for release on the same day.British retail sales figures for September are due on Friday.

•At GMT 17:40, the pair was trading 0.04% lower at 1.3052 ,  lowest level since Oct 10th .

•   Immediate resistance is located at 1.3101( 38.2%fib), any close above will push the pair towards 1.3180(50%fib).

•  Strong support is seen at 1.3007(23.6%fib) and break below could take the pair towards 1.2965(Lower BB).

  Recommendation: Good to sell around 1.3060 , with stop loss of 1.3110 and target price of 1.2950