GBP\/USD climbs past 100-DMA, with buyers gaining traction. Buying interest remains strong, as RSI points upwards, yet to become overbought. Key resistance lies at 1.2670, which would exacerbate followed by 1.2700. Sellers target a close below the 100-DMA to challenge 1.2600.
The Pound Sterling advanced some 0.30% and hit a five-week high of 1.2670 following the release of the US Consumer Price Index (CPI). The data was mostly aligned with estimates, showing a continuation of the disinflation process, which weighed on the Greenback. The GBP\/USD trades at 1.2641 at the time of writing.
The GBP\/USD remains neutral to upward bias and hit a weekly high at 1.2670 following a soft US inflation report. However, the pair has retreated toward the 100-day moving average (DMA) at 1.2632, seen as the next key technical level that, once surpassed, could pave the way for further gains.
If buyers reclaim the 100-DMA, the next resistance would be today\u2019s high at 1.2670. A breach of the latter will expose the April 9 high at 1.2709, ahead of rallying to the next supply zone at 1.2803, the March 21 high. Once surpassed, the next stop would be the year-to-date (YTD) high at 1.2894.
Conversely, sellers remain hopeful that the GBP\/USD exchange rate could tumble below the 100-DMA and achieve a daily close below that level, to challenge 1.2600. Once cleared, the next stop would be the 50-DMa at 1.2591, followed by the 200-DMA at 1.2539.
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GBP\/USD climbs past 100-DMA, with buyers gaining traction. Buying interest remains strong, as RSI points upwards, yet to become overbought. Key resistance lies at 1.2670, which would exacerbate followed by 1.2700. Sellers target a close below the 100-DMA to challenge 1.2600.The Pound Sterling advanced some 0.30% and hit a five-week high of 1.2670 following the …<\/p>\n","protected":false},"author":13,"featured_media":38563,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[6978,7034],"class_list":["post-101219","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-cpi","tag-gbp-usd"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/101219","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=101219"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/101219\/revisions"}],"predecessor-version":[{"id":101244,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/101219\/revisions\/101244"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/38563"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=101219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=101219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=101219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}