GBP/USD stuck in 20-pips range, US CPI eyed

The GBP/USD pair once again found fresh bids near 1.3220 region, and now swings back towards 20-DMA at 1.3240, as the greenback extends its consolidative mode into the European session.

GBP/USD awaits US CPI for fresh impetus

Currently, GBP/USD trades -0.05% lower at 1.3233, trying another attempt to regain 1.3250 levels. The cable continues to trade around a flat-line, with the upside capped by 20-DMA and downside cushioned 1.3220 levels.

The major is likely to extend its range play in the day ahead, in absence of economic data in the UK docket and amid holiday-thinned trades. Hence, attention now turns towards the US calendar, with the CPI and consumer sentiment data lined up for release. Looking ahead, the Fed and BOJ policy decision are likely to take center-stage next week.

GBP/USD Levels to consider                           

The pair has an immediate resistance at 1.3279/85 (Sept 15 high/ 10-DMA), above which 1.3350 (psychological levels) would be tested. On the flip side, support is seen at 1.3200 (round number) below that at 1.3163 (50-DMA).