The United Kingdom’s (UK) Office for National Statistics (ONS) will release the high-impact Consumer Price Index (CPI) data on Wednesday at 06:00 GMT.
The UK Office for National Statistics will publish the CPI report on Wednesday. United Kingdom’s headline and core annual inflation are likely to fall sharply in April. The UK CPI data could affirm BoE June interest rate cut expectations, triggering a big move for the Pound Sterling. The United Kingdom’s Office for National Statistics will release the high-impact Consumer Price Index data on Wednesday at 06:00 GMT.
” Dhwani adds: “The pair need to take out the March 21 high of 1.2804 to sustain the recovery momentum. The upside targets are seen at the 1.2850 psychological level and the March 8 high of 1.2894. On the other hand, the immediate support is placed at 1.2633, the 100-day SMA, below which the 1.2585-1.2565 demand area could be tested. The last line of defense for buyers is seen at the 200-day SMA at 1.2540.” Dhwani adds.
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