The pound is under pressure: Inflation data on Great Britain

The British pound declined against the US dollar, after inflationary data on Britain fell short of analyst expectations. See the Market News. The expectation of the speeches of the heads of central banks of the United States, Britain, the Eurozone and Japan is the deterrent of a stronger decline in the British currency. That is why market participants took a cautious stance on the respective currencies.

Technical analysis: The GBP/USD pair is trading under pressure of political tension in the UK. The nearest support levels are 1.3060; 1.3040; the resistance levels are 1.3130; 1.3170.

The main recommendations: The main recommendation will be sales or purchases of the GBP/USD pair from the above mentioned resistance and support levels. But, the decision on trade should be taken after the end of a series of speeches by the heads of central banks, which will begin at 12:00 in Kiev.

Alexander Sivtsov