The GBP/USD price dropped slightly as an eventful quarter comes to a close and as UK\u2019s inflation expectations dropped.
Set a buy-stop at 1.2250 and a take-profit at 1.2350.The GBP/USD price dropped slightly as an eventful quarter comes to a close and as UK’s inflation expectations dropped. The pair dropped to the psychological level of 1.2200, the lowest price since Tuesday last week.The GBP/USD pair rose to a multi-month high last week after the UK published strong consumer inflation data. These numbers showed that the headline consumer inflation resumed its upward trend in February as it rose to 10.
The other important data that came out last week was the latest UK retail sales numbers. The numbers showed that retail sales jumped in February as consumer confidence rose. According to the Office of National Statistics , sales jumped by 1.25 on a month-on-month basis, higher than the analysts forecasts of 0.5%.
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