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FxWirePro:GBP/USD pauses decline, critical support lies ahead

• GBP/USD edged higher but gains were limited      as investors assessed  geopolitical risks in the Middle East and the forthcoming decisions in the Bank of England's easing cycle.

•  Investor focus this week will be on the U.S. inflation report, due on Thursday, and minutes from the Fed's September meeting scheduled to be released on Wednesday.

• As of GMT 19:23, the pair was trading up 0.06% at 1.3090, bouncing back slightly from a three-week low.

• Technical signals bearsih as RSI is   at 42 , daily momentum studies  5, 9 and 10 DMAs are trending down.

•   Immediate resistance is located at 1.3110( 38.2%fib), any close above will push the pair towards 1.3148 (50%fib).

•  Strong support is seen at 1.3046(23.6%  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
 

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