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

Flavio Tosti Independent Analyst

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

Author

Flavio Tosti

Independent Analyst

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