On Monday, the US dollar was strengthening and consequently, the pound dropped. The British currency lost 42 points.
Today at 12:30 data on Inflation in the UK is published. Data is expected to be mixed; it gives opportunity to expect the continuation of bearish tendency amid strengthening of the US dollar. The major marker of Core Producers Price Index Output is expected to be flat; 2.3% annually. CPI is expected to drop from 2.9% to 2.3%.
At 16:30 UTC+4 data on US Retail Sales in July is published; it is forecast to rise 0.2% vs. 0.4% in June.
From the technical point of view, when the testing level 1.5435 on the H4 is broken, the first target 1.5390 opens. After consolidation under the level we expect so-called mini trend to 1.5255. If the rate consolidates above the upper testing level 1.5482 amid strong macroeconomic data, the growth to 1.5529 is possible.
