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GBP/USD Technical Analysis: Cable is above 1.2800 figure post-US inflation

GBP/USD daily chart

  • GBP/USD is trading in a bear trend below the 100 and 200 SMA.
  • The US CPI (Consumer Producer Index) for December y/y came in line with expectations at 2.2% with limited market reaction.  

GBP/USD 4-hour chart

  • GBP/USD is trading above its main SMAs as the market is at its highest since the start of 2019.

GBP/USD 30-minute chart

  • Bulls pierced the 1.2800 resistance and are now trying to attack the 1.2850 resistance. A break of the level would open the door to 1.2900 resistance. 
  • On the flip side, bears will try to resume the main bear trend by pushing the market below the 1.2800 figure. A break of the level can lead to 1.2725 to the downside. 

Additional key levels

GBP/USD

Overview:
    Today Last Price: 1.2824
    Today Daily change: 78 pips
    Today Daily change %: 0.612%
    Today Daily Open: 1.2746
Trends:
    Previous Daily SMA20: 1.2682
    Previous Daily SMA50: 1.2769
    Previous Daily SMA100: 1.2894
    Previous Daily SMA200: 1.313
Levels:
    Previous Daily High: 1.2805
    Previous Daily Low: 1.2728
    Previous Weekly High: 1.2815
    Previous Weekly Low: 1.2438
    Previous Monthly High: 1.284
    Previous Monthly Low: 1.2477
    Previous Daily Fibonacci 38.2%: 1.2757
    Previous Daily Fibonacci 61.8%: 1.2776
    Previous Daily Pivot Point S1: 1.2714
    Previous Daily Pivot Point S2: 1.2682
    Previous Daily Pivot Point S3: 1.2637
    Previous Daily Pivot Point R1: 1.2791
    Previous Daily Pivot Point R2: 1.2837
    Previous Daily Pivot Point R3: 1.2869

 

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