GBPUSD peeked yesterday to 1.3311 but failed to guard 1.3300 level and dipped to 1.2325 low and closed above 10-EMA at 1.2350 reviving the daily trend to turn bullish, depending on how the pair closes on daily time frame.

Today, the cable is trending flat with 38-pips price action after clocking 1.3268 high, ahead of UK CPI Inflation report, ,followed by BOE`s Gov. Carney with exception for tone to set the Pound in a certain direction depending on the data outcome. Exceptions are placed at 3.00% compared to 2.9% on previous sessions. In case CPI managed to score a 3% and above, the pair will set a new course with a bull destination as the data could motivate carney for a hawkish too.

Technical Overview GBPUSD

Current price: 1.3256

C Losing price: 1.3250

Target: None

Resistance levels: 13285, 1.3333, 1.3350

Support levels: 13240, 13212, 13154

Trend: Sideways


Comment: Overall the market is short term bearish with near term rebounds capped trying to push beyond 1.3285 resistance. A close over 1.3285 hint for bear forces to pressure selloff back with last Thursday range. A close under 1.3200 alerts for secondary selloff..
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