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GBP/USD dips below key support target ahead of major UK economic data

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    GBP/USD slid down on Monday to dip below a key support target around the 1.4250 level ahead of a relatively data-heavy week for the UK. In the process, the currency pair established yet a new 5½-year low. While the US has only a couple of major economic data releases scheduled for this week, most notably Wednesday’s Consumer Price Index (CPI) and Core CPI readings that assess the crucial inflation situation, the UK has several important events on its economic data calendar that could very

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