The latest CPI figures in the UK caused a significant change in the GBP/USD exchange rate. While inflation in the UK may be slowing down, it still remains higher than in other countries. The charts show a significant drop yesterday, and since the pair ended the day at its lowest point, there is a possibility that prices could continue to drop even further, possibly into wave A, which may be part of a correction in higher degree wave 4. However, if there is a rise back up to 1.3049, it would be a strong indicator that the bulls are back in control.
Pound Turns South After UK CPI Figures
