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GBP/USD Forecast: extending retreat on poor inflation data

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Oct 13, 2015.

  1. Sandra S.

    Sandra S. Forum Member

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    The GBP/USD pair advanced up to 1.5387 this Tuesday, favored by a continued dollar's weakness. But the pair met strong selling interest around the critical Fibonacci resistance, and gave up over 80 pips ahead of the release of local inflation figures. The UK CPI fell 0.1% in the year to September, negative for the second time in nearly 55 years, while the producer price index in the same month, and compared to a year before, fell by 1.8%. In the meantime, house prices continued to rise, as the

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