GBP/USD spiked to 1.5460 post-UK CPI
FXStreet (Edinburgh) – The pound has pushed higher vs. the dollar post-UK CPI, taking GBP/USD to fresh daily tops around 1.5460, although the up move proved to be ephemeral.
GBP/USD muted on UK data
The pair keeps the range after UK consumer prices failed to surprise markets during August, coming in flat on a yearly basis and rising 0.2% inter-month. Core prices matched expectations at 1.0% over the last twelve months.
Spot is clinging to daily gains near 1.5440 GBP/USD, with US Retail Sales due later emerging as the next risk event for the pair.
GBP/USD levels to watch
As of writing the pair is up 0.06% at 1.5437 and a breakout of 1.5473 (high Sep.14) GBP/USD would open the door to 1.5505 (high Aug.27) and then 1.5547 (high Aug.7). On the other hand, the immediate support lines up at 1.5373 (low Sep.14) ahead of 1.5338 (low Sep.10) and finally 1.5299 GBP/USD (low Sep.8).
The pound has pushed higher vs. the dollar post-UK CPI, taking GBP/USD to fresh daily tops around 1.5460 GBP/USD, although the up move proved to be ephemeral…
(Market News Provided by FXstreet)