GBP/USD unchanged around 1.3250 ahead of UK CPI

The Sterling is alternating gains and losses on Tuesday vs. the greenback, taking GBP/USD to the mid-1.3200s ahead of the publication of UK’s inflation figures.

GBP/USD steady ahead of data

Cable is so far holding on to the lower end of the weekly range following yesterday’s pullback, although decent contention seems to have emerges around the 1.3250 region.

Renewed Brexit jitters are dominating the sentiment around the British Pound at the beginning of the trading week, while UK officials and EU negotiators continue to blame each other for the lack of significant progress (if any, at all) in the ongoing talks.

Looking ahead, UK’s inflation figures are due later followed by the Treasury Committee Hearings, where Governor M.Carney and MPC members S.Tenreyro and D.Ramsden are due to speak.

In the US docket, export/import price index is due, seconded by September’s capacity utilization, industrial and manufacturing production, the NAHB index and TIC flows.

GBP/USD levels to consider

As of writing the pair is advancing 0.02% at 1.3256 facing the next resistance at 1.3324 (21-day sma) seconded by 1.3338 (high Oct.16) and finally 1.3548 (2014-2017 down trend). On the flip side, a breakdown of 1.3205 (10-day sma) would aim for 1.3145 (55-day sma) and then 1.3121 (low Oct.12).