The GBP/USD pair is currently trading around the mid-1.2100s. Economists at OCBC Bank keep a mild bullish bias on Cable.

Golden cross

“Golden cross formed, with the 50-Day Moving Average (DMA) cutting 200DMA to the upside. Risk modestly skewed to the upside.”

“Resistance is seen at 1.2220 levels.” 

“Support at 1.2085 (21DMA), 1.2050 (50% fibo retracement of 2022 high to low), 1.2020 (50, 200DMAs).”

See:

• GBP/USD: Consolidation ahead of another push higher – Scotiabank
• US CPI Preview: Forecasts from 10 major banks, price pressures to ease further