Higher than expected UK inflation lifts sterling

Cable ticked higher after UK inflation beat forecast in January and hits the highest in thirty years.
Further rise in consumer prices underpins expectations of more BoE rate hikes, with strong bets for the third consecutive hike in March.
Near-term action remains bullishly aligned above pivotal 1.3500 support zone, where 100DMA keeps the downside protected for two weeks, but bulls need close above cracked daily Tenkan-sen (1.3564) to generate further bullish signal for extension towards next key barriers at 1.3600 (Fibo 61.8% 1.3748/1.3357) and 1.3643 (Feb 10 spike high / near-term range top).
Daily technical studies show rising positive momentum and MA’s turning to bullish setup that underpins the action.

Res: 1.3600; 1.3643; 1.3656; 1.3692
Sup: 1.3546; 1.3519; 1.3507; 1.3486