UK CPI (YoY) (Sep) , declines to 1.2% , Limited losses for GBPUSD

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.

 

 

 

MARKET DATA

UPCOMING ECONOMIC EVENTS