Pound Sterling Price News and Forecast: GBPUSD is expecting more upside above 1.2250

FXStreet Team FXStreet

GBP/USD sees an upside above 1.2250 ahead of UK Inflation data

The GBP/USD pair is struggling to extend gains above the immediate resistance of 1.2250 in the early Asian session. The Cable has sensed selling pressure while overstepping the aforementioned resistance a few times but is now expected to extend the rally upside amid a significant improvement in the risk appetite of the market participants.

GBP/USD

Overview
Today last price	1.2227
Today Daily Change	-0.0007
Today Daily Change %	-0.06
Today daily open	1.2234

Trends
Daily SMA20	1.2088
Daily SMA50	1.2038
Daily SMA100	1.1688
Daily SMA200	1.1997

Levels
Previous Daily High	1.2249
Previous Daily Low	1.2151
Previous Weekly High	1.2249
Previous Weekly Low	1.2086
Previous Monthly High	1.2447
Previous Monthly Low	1.1992
Daily Fibonacci 38.2%	1.2211
Daily Fibonacci 61.8%	1.2188
Daily Pivot Point S1	1.2174
Daily Pivot Point S2	1.2113
Daily Pivot Point S3	1.2076
Daily Pivot Point R1	1.2272
Daily Pivot Point R2	1.2309
Daily Pivot Point R3	1.237

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GBP/USD has booked the second straight week of 2023 in the green, as sellers refuse to give up on the United States Dollar (USD) amid dovish US Federal Reserve (Fed) expectations. Will the Pound Sterling bulls extend control in the United Kingdom Consumer Price Index (CPI) week?

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