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13 Aug 2013
UK CPI next: impact on GBP/USD
FXstreet.com (Edinburgh) -A very interesting week for the UK economy will kick in later with inflation figures. Prior surveys expect UK consumer prices to rise at an annual pace of 2.8%, while Core prices would follow suit, expected at 2.2%. Both readings being a tad lower than June’s 2.9% and 2.3%, respectively.
The GBP/USD is edging higher, testing session highs in the vicinity of 1.5480 and prolonging the correction lower from last week’s peaks around 1.5600 the figure. On the upside, the initial barrier aligns at the pivotal level at 1.5500 ahead of the critical 200-day moving average at 1.5532. Key levels on the downside are located at yesterday’s low at 1.5460 followed by Friday’s low at 1.5375.
The GBP/USD is edging higher, testing session highs in the vicinity of 1.5480 and prolonging the correction lower from last week’s peaks around 1.5600 the figure. On the upside, the initial barrier aligns at the pivotal level at 1.5500 ahead of the critical 200-day moving average at 1.5532. Key levels on the downside are located at yesterday’s low at 1.5460 followed by Friday’s low at 1.5375.