Currency Analyst since 2010

GBP/USD is around $1.5900

GBP/USD is consolidating in the $1.5962/5888 area. UK consumer prices in August added 2.7%, in line with expectations. The core reading, however, came lower than expected (2.0% vs. 2.1%) and PPI input contracted by 0.2%. GBP/USD returned to $1.5900 on the news.

In the evening it will be time for inflation figures from the US (12:30 GMT). The Bank of England will publish minutes of its most recent policy meeting tomorrow.

Further resistance lies at $1.5980, $1.6000 (psychological level) and $1.6035. Support is at $1.5870, $1.5830 and $1.5760/50.

Chart. H1 GBP/USD

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