The July consumer price index showed an uptick of 8.5% compared with the same month last year, while the reading came in flat at 0.0% versus June. The figures are down from the prior red-hot rise of 9.1% annually and 1.3% month-on-month in June.

As long as the GBPUSD pair stays above 1.2159, on a four-hourly basis, we will see the key resistance level at 1.2306. Otherwise, if the price moves down below 1.2159, the next level will be at 1.2010.

Support: 1.2159 -1.2010 - 1.1837
Resistance: 1.2306

10 Aug 22 (Wed)

01:02 pm