Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

GBP/USD Drops On Weak UK CPI Data

Published 05/18/2016, 05:17 AM
Updated 03/09/2019, 08:30 AM
GBP/USD
-
DXY
-

GBP/USD drops on weaker than expected UK CPI data

The GBP/USD treaded water to touch the 1.4396 low after a lower than expected UK inflation report. The GBP/USD hovered lower on a stronger dollar after strong US CPI data.

The GBP/USD remains under pressure ahead of the UK unemployment report and ahead of “Brexit” votes. Cutting 1.4400 will provide a lower leg toward 1.4365 and 1.4330 respectively.

However, strong UK wage growth may spark a bullish reaction in GBP/USD, as it plays a big role in the Bank of England (BOE) normalizing monetary policy. Breaking 1.4480 will push the GBP/USD higher towards 1.4500 and 1.4525.

GBP/USD Chart

Disclaimer: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.