British is in uncertainty. Inflation data in the UK

The British pound was in some uncertainty amid mixed data on inflation in the UK.

• The consumer price index in January fell by -0.5%, against the December growth at the level of 0.4%. On an annualized basis, the growth rate remained at the level of 3.0%.
• The base retail price index fell by -0.7%, against the growth of the previous period at 0.8%. On an annualized basis, the growth rate slowed to 4.0%, against the previous value of 4.2%.
• The retail price index in January fell by -0.8%, against the December growth of 0.8%. In its turn, the annual growth rate was 4.0%, exceeding the forecast at 3.8%.

Technical analysis: The pair GBP/USD keeps the movement in a downtrend in the short-term period. At the moment, the main resistance is the mark of 1.3900, which is also near the level of 23.6 Fibonacci on H1. The main support levels are the marks of 1.3800, 1.3765.

Key recommendations: The main recommendation will be the purchase of the instrument with the price fixed above the level of 1.3900 with the growth potential to the levels of 1.3960, 1.3985. Also, the purchase should be considered in the area of ​​1.3800-1.3765 with the growth potential to 1.3850-1.3885.

Fig. GBP/USD. The current price is $ 1.3883.

Alexander Sivtsov