GBPUSD inflation day
The British pound is holding firm against the US dollar currency, with the pair trading around the important 1.2850 level ahead of key inflation data from the UK and US economies today. The GBPUSD pair ideally needs to firm above the 1.2880 level to secure further gains towards the 1.2940 resistance level. Overall, GBPUSD bulls who are not already long from the 1.2770 area may be awaiting for a meaningful technical pullback.
If the GBPUSD pair trades above the 1.2880 level, key resistance is found at the 1.2940 and 1.3000 levels.
If the GBPUSD pair trades below the 1.2880 level, key support is found at the 1.2770 and 1.2710 levels.