GBPUSD

The most critical data for GBPUSD this week will be the UK’s April CPI figures, which will be announced tomorrow (Wednesday). The expected increase in inflation (from 2.6% to 3.3%) could support the Pound. The pair is currently trading just below the pivot level of 1.33484. A lower-than-expected inflation figure could target resistances at 1.34301 and 1.34854. An above-expectation figure or strong data from the US on Thursday could trigger a move towards support levels of 1.32931 and 1.32114.