The Sterling met some buying ineterst following UK’s inflation figures today, sending GBP/USD back above the 1.3200 handle.

GBP/USD bid after data

Spot left the area of session lows and has retaken the 1.3200 limestone after UK’s inflation figures have come in higher than expected, with consumer prices tracked by the CPI rising 0.2% inter-month in June and 0.5% over the last twelve months.

After bottoming out in the 1.3170 area, the pair has managed to gather some traction although its remains in the red territory following the current context of risk-off trade.

GBP/USD levels to consider

As of writing the pair is retreating 0.30% at 1.3216 facing the next support at 1.3101 (low Jul.14) followed by 1.2849 (low Jul.11) and then 1.2797 (20916 low Jul.6). On the other hand, a break above 1.3481 (high Jul.15) would aim for 1.3535 (high Jun.29) and finally 1.3646 (38.2% Fibo of 1.5020-1.2796).