GBPUSD: Bearish Eyes On 1.2930/1.2860 Levels
The outlook in GBPUSD remains on the downside as long as the pair trades below 1.3045 levels on a daily closing basis. Support comes at 1.2930 ahead of 1.2860 levels. A halt is likely. But a cut would open 1.2770 next. Further down, support comes in the 1.2660 levels.
On the upside, immediate resistance comes at 1.2990 ( broken support turned resistance) ahead of 1.3045 levels (main). Above 1.3045 sees recovery threats to 1.3085/1.3135 levels where another fall is likely.
In conclusion: The GBPUSD faces downside threats below 1.2990/1.3045 levels.
Support: 1.2930, 1.2860, 1.2770, 1.2660
Resistance: 1.2990, 1.3045, 1.3085, 1.3135
Key data/events which may affect GBP USD today:
- The U.S will report on consumer price inflation at 13:30 GMT. The forecast is to remain unchanged as the previous month at 0.3%.
- The U.S will also report on core consumer price inflation at 13:30 GMT. The forecast is to remain unchanged as the previous month at 0.2%.
- FOMC Member Williams Speaks at 14:00 GMT.