Price is currently at the same level as the 4-hour timeframe's 200 EMA (1.07990) which is preventing price from moving up, also CPI release minute's ago and had almost zero effect.
CPI results influence INFLATION RATE which influences monetary policy. The immediate impact on the market though is what we care about today so what will it be?
I do think it'll break above a little before falling. What do you think 🤔?