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


    Today Last Price: 1.2824
    Today Daily change: 78 pips
    Today Daily change %: 0.612%
    Today Daily Open: 1.2746
    Previous Daily SMA20: 1.2682
    Previous Daily SMA50: 1.2769
    Previous Daily SMA100: 1.2894
    Previous Daily SMA200: 1.313
    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


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.