GBP/USD takes a peak above 1.3000 after US data

GBP/USD rose to fresh daily highs and quickly pulled back following the release of in line with expectations US consumer price index data.

GBP/USD reached a peak of 1.3009 but was rejected from above 1.3000 and slid to pre-data levels. Cable was last trading at 1.2970, 0.73% above its opening price. 

US CPI  was unchanged on a seasonally adjusted basis in July from the prior month, matching expectations. Excluding volatile categories such as food and energy, consumer prices rose 0.1% in July, slightly below the 0.2% expected.

GBP/USD technical levels

In terms of technical levels, next resistances could be faced at 1.3024 (10-day SMA), 1.3093 (Aug 10 high) and 1.3174 (Aug 5 high). On the other hand, supports are seen at 1.2864 (Aug 15 low), 1.2849 (July 11 low), 1.2795 (31-year low, Jul 6).