With momentum now fading, focus shifts to the next technical decision point:
Crucial support – yellow swing area 1.3455-1.3473 and the 38.2 % retrace of the May-to-June rise at 1.3455.
Fundamentally in the UK this week:
Wed 18 Jun – UK CPI (May): Headline inflation slipped to 3.4 % YoY (prev 3.5 %), core eased to 3.5 %, while services stayed sticky at 5 %+; drop kept BoE-cut bets alive but lingering price pressure tempered sterling losses.
Fri 20 Jun – UK Retail Sales (May): Volumes plunged -2.7 % m/m (cons -0.5 %), the sharpest drop since Dec-23; broad-based weakness revived growth worries and nudged GBPUSD lower in early trade.
Chart & analysis: Greg Michalowski, ForexLive.com — author of “Attacking Currency Trends”
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( GBPUSD: sellers press, but key support looms )
Also on site :