The GBPUSD is back below the 100/200 day MAs
The GBPUSD initially moved higher after the softer-than-expected U.S. CPI report, climbing to 1.3442 and approaching a key swing area between 1.3446 and 1.3465. However, buyers could not sustain the momentum. The pair reversed sharply lower and has since fallen to a new post-CPI low, erasing the inflation-inspired rally.
From a technical perspective, the reversal has shifted the near-term bias back to the downside. The pair has dropped below its 100-day moving average (1.3399), the 50% midpoint of the broader trading range (also near 1.3399), the 200-day moving average (1.3395), and the 100-hour moving average (1.3392). Falling back below that cluster of technical levels is a negative development for buyers and gives sellers the upper hand.
The next key support comes at the rising 200-hour moving average, currently at 1.3375. A break below that level would strengthen the bearish case and increase the sellers' control. Conversely, if buyers are to regain the initiative, they need to push the price back above the 1.3399 area and hold above it. Until that happens, the technical bias remains tilted to the downside.
Adding to the selling pressure were comments from Fed Chair Kevin Warsh following the CPI release. While acknowledging the softer inflation report, Warsh cautioned against declaring victory over inflation. He emphasized that one encouraging CPI reading does not mean "mission accomplished" and reiterated that policymakers need to see a sustained trend of lower inflation before concluding that price pressures are under control. His remarks reinforced the Fed's data-dependent stance and tempered expectations that a single favorable inflation report would lead to a more dovish policy outlook.
This article was written by Greg Michalowski at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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