The GBP/USD pair fell as low as 1.3190 in the early US session after data showed Britain's annual consumer price inflation rate for August came below expectations. The annual rate of consumer price inflation was unchange…
The GBP/USD pair fell as low as 1.3190 in the early US session after data showed Britain's annual consumer price inflation rate for August came below expectations.
The annual rate of consumer price inflation was unchanged at 0.6 percent in August, compared with economists’ forecast for it to increase to 0.7 percent on Tuesday.
The ongoing weakness is set to continue for this pair as the resistance level at 1.3300 is likely to act as strong barrier to the bulls and bring a further decline towards lower levels.
To the upside, immediate resistance can be seen at 1.3260, a break above this level would expose the cable to next resistance level at 1.3300.
To the downside immediate support can be seen at 1.3173, a break below at this level will open the door towards next level at 1.3090.
