The pound received support: Inflation data on the UK.

The British pound strengthens its position against the US dollar due to the positive inflation data on the UK, which were higher than the previous values. See Market News. The growth of the British currency can be quite restrained amid some pessimism about Brexit, as well as on the eve of the EU summit, which will begin on December 14. During the summit, the question of the transition of the Brexit negotiations to a bargain deal can be resolved.

Technical analysis: The GBP/USD pair is returning to the upstream channel on H1, which can be considered as a signal of continuation of the trend, but at this stage the fundamental factors do not provide adequate support to the pound. One should consider the main resistance levels at the marks 1.3430; 1.3480. Support levels are considered at 1,3300; 1.3280.

Fig. GBP/USD. The current price is $ 1.3365.

Alexander Sivtsov