U.K CPI Falls 0.0% In Jun , GBPUSD Under Pressure !

forex consumer
forex consumer

The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.

The U.K CPI fell 0.0%, from 0.2% in the previous month, U.K CPI was expected to fall 0.1% lat month.

(Year-Over-Year) U.K CPI also fell 0.0% , from 0.1% in the previous month, (Y-O-Y) U.K CPI was expected to remain unchanged at 0.1% last month ..

Market Impact : The pair has already printed resistance at the 1.5481 levels on a 4- hour closing basis, but it remains trading above the key support 1.5460, so we have 2 options (scenarios) :

1- Bullish Scenario : sustained breakout – 4 hour closing – above the 1.5481 levels will restore the upside momentum and open the 1.5540 levels ahead of the 1.5590 levels.

UKCPI-Jun

2- Bearish Scenario : stability below the 1.5481 levels on a 4- hour closing basis, will keep the pair under pressure with risk towards the 1.5415/1.5365 levels.

UKCPI-Jun_002

Further Reading

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MARKET DATA

UPCOMING ECONOMIC EVENTS