The Pound Sterling advanced some 0.30% and hit a five-week high of 1.2670 following the release of the US Consumer Price Index (CPI).
GBP/USD climbs past 100-DMA, with buyers gaining traction. Buying interest remains strong, as RSI points upwards, yet to become overbought. Key resistance lies at 1.2670, which would exacerbate followed by 1.2700. Sellers target a close below the 100-DMA to challenge 1.2600. The Pound Sterling advanced some 0.30% and hit a five-week high of 1.2670 following the release of the US Consumer Price Index .
If buyers reclaim the 100-DMA, the next resistance would be today’s high at 1.2670. A breach of the latter will expose the April 9 high at 1.2709, ahead of rallying to the next supply zone at 1.2803, the March 21 high. Once surpassed, the next stop would be the year-to-date high at 1.2894. Conversely, sellers remain hopeful that the GBP/USD exchange rate could tumble below the 100-DMA and achieve a daily close below that level, to challenge 1.2600.
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