GBP/USD dropped to a fresh 3-week low against the dollar following the shambolic party conference speech from Prime Minister Theresa May, broke the support at 1.3187 [H4 200SMA]. The pair is now trading around 1.3158, having hit a low of 1.3153, lowest since Sept. 14. A decisive break below 1.3148 [Sep 14th low] would drag the pair further down till 1.3110 (61.8% retracement of 1.2773 and 1.3656).
Support: 1.3148, 1.3110/1.3100 & 1.3060
Resistance: 1.3190/1.3200, 1.3230 & 1.3260
Recommendation: Sell on rally around 1.3200 with SL above: 1.32300 and TP at: 1.3150/1.3110