Overall, GBP/USD is ranging across. Recently, GBP/USD bounced off the support zone of 1.38000.
The UK CPI y/y data will be released yesterday indicated a strong rise in inflation to a 9-year high level. It was mentioned in the report that the main driver of the rise in inflation is due to the Eat Out to Help Out scheme that was implemented in the UK last year that led to a decline in restaurant meals in August 2020. As a result, prices will be subjected to a higher rise when recovering.
GBP/USD’s next support zone is at 1.38000 and the next resistance zone is at 1.40000.
Look for short-term buying opportunities of GBP/USD.
The UK CPI y/y data will be released yesterday indicated a strong rise in inflation to a 9-year high level. It was mentioned in the report that the main driver of the rise in inflation is due to the Eat Out to Help Out scheme that was implemented in the UK last year that led to a decline in restaurant meals in August 2020. As a result, prices will be subjected to a higher rise when recovering.
- CPI y/y (Actual: 3.2%, Forecast: 2.9%, Previous: 2.0%)
- Core CPI y/y (Actual: 3.1%, Forecast: 2.9%, Previous: 1.8%)
GBP/USD’s next support zone is at 1.38000 and the next resistance zone is at 1.40000.
Look for short-term buying opportunities of GBP/USD.