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A test of 1.3000 in the GBP/USD looms larger as UK inflation falls
Following on from a slightly earlier update noting the greater than anticipated fall in UK consumer and retail prices last month, the GBP/USD is still pressing closer to the 1.30 handle after busting below the noted, previous interim low at 1.3022. The next support is clearly at 1.3000 now and that could very soon be the subject of a test. If that 1.3000 handle does not cap the downside, then the next support below that level, is now at 1.2954 (100 day moving average). The prospect of the BOE holding off on further rate cuts just not dealt quite a blow after this data. The GBP/USD has traded to as low as 1.3003 as this update is concluded
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