FX.co ★ GBP/USD. Forecast for August 14, 2013

Yesterday, data on inflation in the UK in July was a bit lower than forecast. Core Consumer Price Index was 2.0% vs. forecast for 2.3%. Consumer Price index was 2.8% against a wide range of expectations 2.3%-2.8%. The pound was under considerable speculative pressure on high volumes and it closed the day at the same levels.

Today, at 12:30 UTC+4 Claimant Count Change in the UK in July is published, forecast -14.3K vs. -21.2K in June. At the same time, UK Claimant Count Rate in June is revealed, expectations are at the level of May, 7.8%. At 12:30 UTC+4 the Bank of England Meeting Minutes are published.

Taking into account all the data which will come, the situation may develop in different directions; if the upper testing level of 1.5482 is broken, the target is at 1.5529, the high of August 7, opens, if the level of 1.5425 is broken, the nearest target is at 1.5390, consolidation under it opens the way to 1.5255.