• GBP/USD rebounded on Monday as investors paused after Friday's selloff driven by fiscal concerns.
• Sterling had dipped last week weighed down by mounting concerns over the UK’s fiscal outlook, including higher-than-expected government borrowing and uncertainty around upcoming policy measures.
• Looking ahead, attention will center on the flash PMIs, while several Bank of England officials are also scheduled to speak.
• At GMT 15:29, Sterling was last up 0.13% on the dollar at 1.3502.
• Immediate resistance is located at 1.3524 (SMA 20), any close above will push the pair towards 1.3585(38.2%fib).
• Support is seen at 1.3457(50%fib) and break below could take the pair towards 1.3361(Lower BB).
Recommendation: Good to buy around 1.3480, with stop loss of 1.3400 and target price of 1.3570
