{"id":112794,"date":"2017-09-14T07:20:37","date_gmt":"2017-09-14T11:20:37","guid":{"rendered":"http:\/\/countingpips.com\/?p=112794"},"modified":"2017-09-14T06:23:28","modified_gmt":"2017-09-14T10:23:28","slug":"gbpusd-forex-technical-analysis-rising-inflation-supports-british-pound-2","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/09\/gbpusd-forex-technical-analysis-rising-inflation-supports-british-pound-2\/","title":{"rendered":"GBPUSD: Forex Technical Analysis – Rising inflation supports British Pound"},"content":{"rendered":"
September 14, 2017<\/div>
\r\n<\/div><\/div>

By IFCMarkets<\/a><\/p>\n

Rising inflation supports British Pound<\/strong><\/p>\n

UK inflation rose 2.9% in August, above expected 2.8% gain. Will the British Pound<\/a> continue strengthening?<\/p>\n

The UK recent inflation report was upbeat: consumer prices rose 2.9% on year in August when a 2.8% gain was expected following 2.6% advance in July. The next day Office of Statistics data showed unemployment in three months to July fell to 4.3% from 4.4% but wage growth remained steady at 2.1% over year. While the Bank of England is widely expected to leave its key interest rate at 0.25% at its meeting today, leaving unchanged also the size of its asset purchase program at \u00a3435 billion, there is a chance the number of dissenting votes could rise to three from a 7-2 split in favor of keeping rates on hold and the central bank may strike a hawkish tone in light of rising inflation.<\/p>\n

\"GBPUSD\"<\/p>\n

On the daily chart the GBPUSD: D1<\/b> is above the 200-day moving average MA(200).<\/p>\n