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19.04.201808:21 Forex Analysis & Reviews: Pound was overheated

Long-term review

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GBP / USD

Yesterday, the British pound lost 85 points due to low inflation figures for March. The consumer price index (CPI) fell from 2.7% YoY to 2.5% YoY (as inflation was rebound the previous year), while the index was expected to remain unchanged. The base CPI fell from 2.4% YoY to 2.3% YoY, with the expectation of an increase to 2.5% YoY. Retail prices fell from 3.6% YoY to 3.3% YoY. Also, house prices were reduced from 4.7 % YoY to 4.4% YoY against expectations of an increase to 4.8% YoY.

Today at 9:30 PM London time retail sales will in March be issued, with the forecast at -0.5% against growth of 0.8% in February. The United States may reduce the number of applications for unemployment benefits, showing a forecast of 230 thousand against 233 thousand previously.

We are anticipating for the pound to fall to 1.4070.

* The presented market analysis is informative and does not constitute a guide to the transaction.

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