The Pound Sterling holds to earlier gains versus the Greenback following a hotter-than-expected inflation report in the UK, yet the pair pulls back from a two-month high as the CPI approaches the Bank of England’s goal.
GBP/USD clings to earlier gains after UK CPI data. Immediate resistance at 1.2800 remains elusive for buyers. Support at 1.2700; once cleared, GBP/USD could dive toward a confluence of technical indicators around 1.2634. The GBP/USD trades at 1.2739, up 0.24%. GBP/USD Price Analysis: Technical outlook The pair remains neutral to upward bias despite exchanging hands below the 1.2761 daily high of the session.
Conversely, a retracement would emerge once the GBP/USD tumbles below 1.2700, exposing the confluence of May’s 3 high and the 100-day moving average at 1.2634, followed by the 50-DMA at 1.2581. GBP/USD Price Action – Daily Chart GBP/USD Overview Today last price 1.2728 Today Daily Change 0.0019 Today Daily Change % 0.15 Today daily open 1.2709 Trends Daily SMA20 1.2569 Daily SMA50 1.2584 Daily SMA100 1.2633 Daily SMA200 1.2541 Levels Previous Daily High 1.2727 Previous Daily Low 1.
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