- GBP / USD Price Analysis suggests almost an absolute chance that Fed will reduce the rates in September.
- Data on Tuesday found that American CPI increased by 0.2% as expected.
- Trump threatened the lawsuit against Powell due to poor management of restorations.
GBP / USD The price analysis suggests almost an absolute chance that Fed will reduce the rates in September after the soft digit of American inflation. As a result, the dollar is mimning close to two weeks low, allowing a pound to climb. Meanwhile, the Employment Information showed a mixed image that could hold the colors carefully.
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Data on Tuesday found that American CPI increased by 0.2% as expected. This was a decline of previous reading of 0.3%. Meanwhile, the annual figure came in 2.7% lower than the estimate of 2.8%. The soft figures supported the look for more goodbye in the future.
After the report, the market participants are 98% chance of reducing the price in September and it strived on the dollar.
“The release of the US CPI proved to be a dollar negative event,” Francesco Pesole said, Strategic Ing. “September Fred Fun stays firmly.”
Somewhere else, Trump threatened the lawsuit against Powell due to poor management of the Feda headquarters. Participants in the market considered this to continue their attacks on Fed.
Meanwhile, data on Tuesday found that Britain’s market had slowed to the Marketwork. However, the growth of salaries remained strong.
GBP / USD Key events Today
Today, market participants do not expect key economic editions. Therefore, they will continue to absorb the American consumer inflation numbers.
GBP / USD Technical price Analysis: Rally nearby 1,3575 Resistance
On the technical side, the GBP / USD price gathered in an impulsive move that is approaching the level of resilience at 1.3575. The price is good above the 30th, which shows that the bulls are in lead. At the same time, the RSI is in the search region, indicating a solid coast momentum.
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The bull maintained the Usttrend, because they took over near the level of support from 1,3151. The price remained above the 30th and made excess high and lower. Given the powerful bias of the bakery, the price will soon be able to cause resistance 1,3575. The above break would strengthen the Bikovska bias.
However, if the resistance holds the company, the price will probably refuse lower to reset 30ths. Moreover, it could make a deeper move to reset 1,3401.
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