•GBP/USD recovered some ground on Thursday as dollar eased as investors digested a U.S. inflation reading that largely met expectations.
• U.S. PCE inflation rose at a 4.1% annualized pace in May, its fastest in three years but broadly in line with expectations. Jobless claims held steady while price hikes from Apple and Microsoft added to inflation concerns...
• Chicago Fed President Austan Goolsbee said inflation is moving the wrong way, though the latest PCE report wasn’t entirely negative, with inflation clearly the main concern in the Fed’s mandate..
• Oil rose after a cargo vessel was hit by an unknown projectile near Oman, raising concerns over the pace of Middle East supply normalization..
• Immediate resistance is located at 1.3221(Daily high), any close above will push the pair towards 1.3292(38.2%fib)
• Strong support is seen at 1.3155(23.6%fib) and break below could take the pair towards 1.3071(Lower BB).
Recommendation: Good to sell around 1.3200 with stop loss of 1.3270 and target price of 1.3140
