Technical Analysis: Pound Sterling faces pressure near 1.2700
The Pound Sterling struggles to extend upside above the round-level resistance of 1.2700. The GBP/USD pair is expected to remain sideways as investors await the US CPI data. The Cable trades inside Tuesday’s trading range, suggesting a sideways trend. The 200-day Exponential Moving Average (EMA) near 1.2570 supports the Pound Sterling bulls.
On the downside, the psychological level of 1.2500 plotted from December 8 low will be a major support for the Cable.
The 14-period Relative Strength Index (RSI) oscillates inside the 40.00-60.00 range, suggesting indecisiveness among market participants
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