GBP/USD Outlook (18 November 2021)
Overall, GBP/USD is trending downwards. Recently, GBP/USD bounced up from the key level of 1.34.
The UK CPI y/y data (Actual: 4.2%, Forecast: 3.9%, Previous: 3.1%) released yesterday indicated a higher-than-expected surge in prices to a 10-year high level, causing GBP to strengthened across the board as the likelihood of an interest rate hike in December by the Bank of England increases.
Currently, GBP/USD is testing to break above the key level of 1.35. Its next support zone is at 1.33800 and the next resistance zone is at 1.36000.
Look for short-term buying opportunities of GBP/USD if it breaks above the key level of 1.35.
The UK CPI y/y data (Actual: 4.2%, Forecast: 3.9%, Previous: 3.1%) released yesterday indicated a higher-than-expected surge in prices to a 10-year high level, causing GBP to strengthened across the board as the likelihood of an interest rate hike in December by the Bank of England increases.
Currently, GBP/USD is testing to break above the key level of 1.35. Its next support zone is at 1.33800 and the next resistance zone is at 1.36000.
Look for short-term buying opportunities of GBP/USD if it breaks above the key level of 1.35.
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