• 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
