GBPUSD: consolidation before the publication of the consumer price index in the UK

February 17, 2015

Buy on a level breakthrough of 1.5440 with 1.5500 target. Stop loss = 1.5390.
Reason for the trading strategy
This afternoon, the inflation statistics for the UK will be published. In January, a reduction in consumer inflation in the country from 0.5% (y/y) to 0.3% (y/y) is expected; the core consumer price index is to be maintained at 1.3% (y/y). We believe the data will not put significant pressure on the pound.


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