GBPUSD TRADERS AWAIT KEY UK INFLATION DATA
The British pound has pulled back from the 1.3170 level against the greenback, as traders book profits ahead of a raft of key UK data this morning. Sterling traders await the release of key inflation data from the United Kingdom economy, with expectations tilted to the upside. Buyers will attempt to move the GBPUSD pair towards the 1.3205 level, while sellers will try to move price below the 1.3100 level.
The GBPUSD pair is only bullish while trading above the 1.3100 level, key resistance is found at the 1.3170 and 1.3205 levels.
If the GBPUSD pair moves below the 1.3100 level, key support remains at the 1.3060 and 1.3000 levels.