The pound is losing ground. Inflation data on the UK

The British pound fell sharply against the US dollar amid weak inflationary data on inflation in the UK.

• According to published data, the consumer price index in March rose by 0.1%, which is lower than the previous value at the level of 0.4%. On an annualized basis, the growth slowed to 2.5%, against the previous level of 2.7%.

Technical analysis: Despite the decline, the pair GBP/USD still maintains an uptrend in the short term. At the moment, the main support is the level of 1.4200. In case of further reduction and fixing of the price of the instrument below the level of 1.4200, one should expect its further decrease to the levels of 1.4145, 1.4100.

Fig. GBP/USD. The current price is $ 1.4193.

Alexander Sivtsov