On Wednesday, at 13:30 GMT, the US Consumer Price Index and Core Consumer Price index data was released. The USD reacted by declining. The GBP/USD currency exchange rate reacted by sharply moving to the 1.3680 mark, which at 14:00 GMT appeared to have stopped the jump.
In the case that the GBP passes the 1.3680 level against the US Dollar, the currency exchange rate could look for resistance in the 1.3700 mark. Afterward, the weekly R2 simple pivot point at 1.3709 might act as resistance. Above the R2, there is no technical resistance as high as the 1.3820 level, where the R3 simple pivot point is located.
Meanwhile, a potential decline would most likely look for support in the weekly R1 simple pivot point at 1.3652 and the 1.3650 mark, before aiming at the 50 and 100-hour simple moving averages and the 1.3600 level.
