GBP/USD at 1.35 into UK CPI and the Bank of England
Cable is holding 1.3520 before a heavy UK week: August CPI on Wednesday is expected near 3.2%, and the Bank of England is expected to hold at 3.75% on Thursday. A Fed hike the evening before would tilt rate differentials toward the dollar.
What’s driving it
- UK CPI Wednesday — about 3.2% y/y expected, up from 2.9%
- BoE Thursday — hold at 3.75% expected, likely on a split vote
- Fed hike expectations support the dollar
Key levels
Resistance
1.36001.3680Support
1.34501.3380Scenarios
Bullish caseA hot CPI print that brings BoE hike bets forward could lift cable through 1.3600.
Bearish caseA Fed hike followed by a cautious BoE favours a break of 1.3450 toward 1.3380.
General market commentary for education, not personal advice. Levels can shift quickly around news.
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