The British pound has soared above the 1.3200 level against the US dollar, after inflation data from the United Kingdom economy came in much better than expected. The GBPUSD pair is strongly bullish while trading above the 1.3205 technical level. Overall, the bullish inverted head and shoulders pattern continues to work, with the price now trading around a much larger bullish pattern.
The GBPUSD pair is strongly bullish while trading above the 1.32050 level, key resistance is found at the 1.3255 and 1.3300 levels.
If the GBPUSD pair moves below the 1.3205 level, key support is found at the 1.3171 and 1.3100 levels.
