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.
Usual Effect: A high reading or a better than expected number is seen as positive for the GBP, while a low reading is negative.
Frequency: Released monthly, on the second or third Tuesday of the current month.
Last Read : 1.5%
Expectations : 1.4%
Actual : 1.2%
Volatility : High Volatility
Market Impact : 1.2% is likely to bring sideways move within support and resistance level will possible to break below support level .
Support and resistance : 1.5800 , 1.5853 , 1.5900 , 1.5951 , 1.6089 , 1.6125 , 1.6225
Expected range : ( 1.5951 – 1.6098 ).
Technical Summary : 1.5951 is a strong support levels , this level is likely to hold , If seen , any rebound should be limited by the 1.6098 levels , below 1.5951 we have strong demand from 1.5850/1.5900 levels.
Strategy : Sell at resistance.