GBP/USD traded above 1.2200

Source: Dukascopy Bank SA


The United States Bureau of Labour statistics has just now released the latest Consumer Price Index data. The data reveals how the US inflation has changed during the last month. All data numbers hit the forecasts.

On the GBP/USD charts the event resulted in an attempt to reach the resistance of the 1.2250 mark. However, the pair apparently reversed near 1.2140.

An extension of the decline of the GBP/USD might look for support in the combination of the 1.2150 level, the 50 and 100-hour simple moving averages. Further below, note the this week's support and late December resistance zone at 1.2100/1.2115.

However, a surge of the Pound against the US Dollar is set to face resistance in the weekly R1 simple pivot point at 1.2195 and the 1.2200 mark, prior to approaching the 1.2250 level.
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