VOT Research Desk
Points British Pound Analytics
The underlying response was moderately muffled with a 10pip spike higher for GBPUSD prior to pulling back and hoping to push lower. The previous US CPI print has taken dollar bulls back to the front, with any potential gain move for the GBPUSD appearing to be more uncertain with a gigantic negative overwhelming candle close indicating the further drawback.
We revitalized on Monday and yesterday toward the opposition region at 1.17500 as the CPI news broke and have since posted declines with YTD lows currently in sight. We right now exchange underneath the 20,50 and 100-SMA’s with a descending slanting slope supporting further shortcoming in the pound. Would it be advisable for us to take out YTD lows targets rest at 1.12000 followed by the 2.618 lie level at around 1.0900?
Key Intraday Levels worth Watching:
Support Areas
1.14100
1.12000
Resistance Areas
1.15900
1.17000
