Trading GBPUSD? This UK inflation release GBPUSD impact analysis from ADS Securities’ team of market analysis will come right in handy.
18 July, ADS Securities – Following three consecutive bullish sessions, the Pound retreated in the previous session, following increased dissension within the British government ahead of the second round of negotiation of nation’s exit bill with the European Union.
UK inflation release GBPUSD impact
At present, the pair is trading with an upward tone on the 1H chart, reflecting at the bullish momentum in the coming session. Moreover, a signal line crossover from below by the MACD indicator, further confirms the above view. Traders would eye the UK’s inflation data to be released later today.
The immediate technical barrier is positioned at the 1.3120 level, followed by the 1.3145 and 1.3170 levels. A break and stability above the latter might generate positivity in the pair. On the contrary, key support is situated at the 1.3065 level, followed by the 1.3040 where EMA 55 is placed and crucial 1.3000 levels.
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