The Sterling Broke through the Key 1.9000 figure early in the Asian session and Strong CPI numbers for July were not enough to reverse market sentiment and cable closed below the figure. July CPI jumped 0.6% to 4.4% y/y. Looking ahead for July Claimant Count seen at 17.5K and Average Earnings for June forecast at 3.6%.
Technical view
GBP R1: 1.8750 S1:1.8580
R2: 1.8780 S2:1.8540
chart pattern indicates a complete downtrend for the day. With the trading 1.8570-1.8730.Stochastic and momentum are signaling downwards. Parabolic is also supporting it.
Technical view :
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