GBP/USD looks to 1.3265 post CPI data
GBP/USD rises after hotter than expected service sector inflation data. While headline CPI remained at 2.2%, services & core inflation were hotter than expected, supporting the view the BoE will keep rates unchanged tomorrow. Further gains in GBP/USD could come if the Fed cuts rates by 50 bps later today.
GBP/USD trades above its rising trendline; the price has recovered from the 1.30 low as it rises above 1.32, the round number, and heads towards 1.3265, the 2024 high. A rise above here brings 1.33 into focus.
Support can be seen at 1.3140, the July 2023 high, and a break below here opens the door to 1.30. Sellers need to take out 1.30 to create a lower low.
GBP/USD trades above its rising trendline; the price has recovered from the 1.30 low as it rises above 1.32, the round number, and heads towards 1.3265, the 2024 high. A rise above here brings 1.33 into focus.
Support can be seen at 1.3140, the July 2023 high, and a break below here opens the door to 1.30. Sellers need to take out 1.30 to create a lower low.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.