The cable continues to trend higher after breaking above the 2-year high, 1.3750, as USD inflation fears keep weighing on the US dollar. The GBP continued benefiting from the coronavirus vaccination distribution and diminishing odds for negative BoE interest rates in 2021. Today, if US CPI doesn’t show any inflation on the Dollar, then the Sterling will probably rally higher towards 1.3850 and 1.39.
Support: 1.38/ 1.3750
Resistance: 1.3850 / 1.39
