U.K CPI Unchanged 0.2% In May, Buy GBPUSD On Dips !

forex inflation2 min
forex inflation2 min

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.

U.K CPI  remains unchanged at 0.2% as previous month, U.K CPI was expected to be unchanged 0.2%  last month.

Year-Over-Year U.K Consumer Price Index (CPI) rose to 0.1%, from -0.1% in the previous month. U.K Consumer Price Index (YoY) was expected to rise to 0.1% last month.

Market Impact : A corrective pullback towards the 1.5553 levels  before the next rise is likely as daily chart suggests , note that the pair may fluctuate around 1.5553 levels before the next rise .

According to 4-hour chart, the pair has already printed support at the 1.5544 levels, a failure to hold below the 1.5544 levels on a 4 hour closing basis could mean a return to the 1.5631 levels, a clear break below 1.5544 will suggest further down towards the 1.5485/1.5420 levels before the next rise….volatility is suggested around 1.5544 levels…

UK CPI Jun_017

UK CPI Jun16

MARKET DATA

UPCOMING ECONOMIC EVENTS

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