GBP/USD surges after US CPI release

Note: This section contains information in English only.
Source: Dukascopy Bank SA


Just like all USD pairs and assets the GBP/USD was highly volatile during the US Consumer Price Index release. The pair was bouncing around in the 1.3525/1.3645 range after the release. On Friday morning, the currency exchange rate found support in the weekly simple pivot point at 1.3517 and started a surge. By the middle of the day's European trading hours, the GBP/USD was surging and heading to the 1.3600 mark.

If the rate reaches the 1.3600 mark and passes above it, the 1.3615/1.3625 zone might act as resistance. However, take into account that the zone was passed during the CPI release's volatility. Above the zone, the weekly R1 simple pivot point at 1.3646 could stop a surge.

On the other hand, a decline of the Pound against the US Dollar are slightly likely going to find support in the combination of the 50, 100 and 200-hour simple moving averages near the 1.3550 mark. Further below, the weekly simple pivot point at 1.3517 might once again stop a decline.
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