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GBP/USD – has traded for a session low of 1.5164

FXstreet.com (London) - The Consumer Price Index (YoY and MoM) has climbed +2.4% in April (against expectations of +2.6%) and +0.2% in April (vs. a projection of +0.4%) respectively. In addition, the Core Consumer Price Index (YoY) yielded a figure of +2.0% in April, relative to a consensus of +2.3%.

The release of that data has seen GBP/USD record lower lows since it dumped from 1.5230 in a few waves through the figure. It has shed some 100 pips since it opened at 1.5260 in this morning’s European session.

1.5150 is a support that would need to hold to confirm that that intra day ranges are still in tact with top side resistance remaining at 1.5225-40 ahead of Fed minutes tomorrow.

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