Pound Sterling stubbornly stuck to Wednesday’s opening range. A smattering of UK data sparked some volatility, but little movement. US Retail Sales and PPE figures in the barrel for Wednesday. Technicals are struggling to push into either side of the 1.2800 handle in the midweek trading session, and investors are awaiting a spark in the data. UK Industrial Production fell to -0.2% in January after December’s 0.6% print, missing the forecast flat print of 0.0%.
At least read, UK consumers expected UK inflation to land somewhere around 3.3% for the following 12 months. GBP/USD technical outlook GBP/USD is cycling into the midweek, churning into the midrange as the pair grapples with an inflection point priced in just above 1.2750. Hourly candles have dropped a potential break of character just below the 1.2900 handle, and near-term action is set to consolidate until the stronger pattern emerges.
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Source: DailyFX - 🏆 305. / 63 Read more »
Source: DailyFX - 🏆 305. / 63 Read more »