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FxWirePro - EURUSD trades above 1.0550 after strong US PPI data, good to sell on rallies 
• GBP/USD slipped sharply lower on Wednesday as dollar firmed after US Oct CPI inflation.
• The Consumer Price Index (CPI) increased by 0.2% for the fourth consecutive month, according to data released by the Labor Department on Wednesday.
•In the 12 months ending in October, the Consumer Price Index (CPI) rose by 2.6%, following a 2.4% increase in September.
• The CPI excluding food and energy rose 0.3% in October, marking the third consecutive month of the same increase.
• Immediate resistance is located at 1.2759( 38.2%fib), any close above will push the pair towards 1.2842(50%fib)
• Strong support is seen at 1.2694 (Daily low) and break below could take the pair towards 1.2664 23.6%fib).
Recommendation: Good to sell around 1.2730 , with stop loss of 1.2800 and target price of 1.2600
