The pound sterling can plummet against the US dollar after today's inflation data in the UK as weak growth is likely to make the Bank of England think about cutting interest rates. The euro continues to drop. There is no sign of an upward correction in the short term.
Trade signals for EUR/USD currency pair:
The breakout of the 1.8025 level will cause the euro to rise to 1.0860 and 1.0886
The breakout in the area of 1.0795 will lead to the sell off in the euro at 1.0770 and 1.0740
Trade signals for GBP/USD currency pair:
If the pound breaks the level of 1.3010 it may rise to 1.3052 and 1.3093
On the flip side, breaking below 1.0795, the British currency may slide lower to 1.2928 and 1.2895
Fundamental data:
1. Consumer price index
2. ECB's current account balance
3. Building permits in construction
4. Fed minutes
