By
GCI Financial |
Technical Analysis | Aug 17, 2011 06:03AM GMT |
In the UK, on an annual basis, the consumer price inflation rose to 4.4% in July, compared to a rate of 4.2% recorded in June. Additionally, the retail price inflation remained unchanged at 5.0% (Y-o-Y) in July, in line with market estimates.
The pair opened the Asian session at 1.6443, and is trading slightly lower from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 1.6500, followed by the next resistance at 1.6567. The first support is at 1.6343, with the subsequent support at 1.6253.
Investors are eyeing the Bank of England Minutes along with other economic releases in the UK to be released later today.
Please see the attached chart below...
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