GBP/USD: bulls Defend 1.33500 ahead of CPIBritish Pound vs US DollarICMARKETS:GBPUSDcurrencynerdThe technical picture continues to favor buyers as GBP/USD holds above 1.33500, a level that previously acted as daily supply before being reclaimed as demand. Despite several attempts, sellers failed to generate enough follow-through below this area, suggesting demand remains active. On the 4-hour chart, price is now approaching the first major obstacle between 1.33850 and 1.33866. This zone represents a cluster of recent highs where liquidity is likely resting. A decisive break above it would indicate buyers have absorbed nearby supply and could open the way for another leg higher. My upside objective sits near 1.34301, which aligns with the 127.2% Fibonacci extension on the hourly measured from the recent swings. Until proven otherwise, the market structure continues to produce higher lows while defending reclaimed support, keeping the near-term bias constructive. points of interest Support: 1.33500 Liquidity hurdle: 1.33850–1.33866 Bullish target: 1.34301 (127.2% Fibonacci extension) Today's U.S. CPI release is likely to be the catalyst that determines whether buyers can clear the liquidity resting above 1.33850. A softer-than-expected inflation print could weaken the U.S. dollar and support a breakout, while stronger inflation could invalidate the setup. Rather than predicting the news, the focus remains on how price reacts around these key technical levels. put together by : Pako Phutietsile as @currencynerd