GBP/USD near daily highs post-CPI, around 1.2440

The Sterling keeps the composure following UK’s CPI figures, with GBP/USD meandering near the 1.2440/50 band, or daily highs.

GBP/USD above 1.2400 on CPI

Spot stayed within the daily range after UK’s inflation figures tracked by the CPI showed consumer prices rose 2.3% on a year to March and 0.4% inter-month. Further data saw Core CPI rising at an annualized 1.8% vs. 1.9% initially forecasted.

The pair is thus advancing for the second session in a row today, coming up after finding decent support in the 1.2370/60 band.

GBP/USD levels to consider

As of writing the pair is up 0.17% at 1.2438 facing the next hurdle at 1.2478 (high Apr.7) and then 1.2508 (high Apr.6). On the other hand, a breakdown of 1.2361 (low Apr.7) would expose 1.2321 (low Mar.17) and then 1.2302 (61.8% Fibo of the March up move).

Apr 11, 2017

UK annualized CPI stays unchanged in March, core figures disappoint

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