The British pound is under pressure, but not in a hurry to lose the ground

The publication of weak data on inflation in the UK completely disappointed the market. At the same time, despite the weak inflation data, the British pound is in no hurry to lose the ground because of  the Brexit talks, which indicates optimism and the expectation of new data on Brexit.

In turn, the overbought of the pound and the growth of stock exchanges in Britain can strengthen the correction of the British, putting pressure and forming a full-scale correction against yesterday’s pound movement.

Significant support for the pair GBP/USD is 1.4020-00, the consolidation of the pair below it will indicate the correction and development of the double top figure, which was formed during the last 24 hours. Update of the daily maximum cancels the scenario for a decline. Support levels are located at the levels: 1.3970 and 1.3950.

Fig. GBP/USD. The current price is 1.4030.

Hanzenko Anton