FxWirePro: GBP/USD slips ahead of US inflation report and UK GDP figures

• GBP/USD slipped  lower on Monday as the pair attracted sellers ​ahead to crucial US inflation data and UK GDP ‌readings due this week for fresh insight into the economic outlook.

•Oil prices surged 2% to $106.76 a barrel, trading near two-week highs as attacks on Saudi Arabia overshadowed expectations of increased Russian supplies and a potential Russia-Ukraine ceasefire targeting energy infrastructure.

• Investors will also monitor UK Finance Minister John Healey’s meetings with foreign counterparts during his first visit to the International Monetary Fund’s annual meetings this week.

• Market attention is focused on Wednesday’s U.S. inflation report and Thursday’s release of UK GDP data for August.

.•   Immediate resistance is located at 1.3262(Daily high), any close above will push the pair towards 1.3285(38.2%fib)

•  Strong support is seen at 1.3151(23.6%fib) and break below could take the pair towards 1.3126(Lower BB).

  Recommendation: Good to sell around 1.3210, with stop loss of 1.3260 and target price of 1.3120