BOEs Greene: UK services inflation is elevated but on a downward path

BOE Greene is speaking and she says:

• UK’s services inflation is elevated but on a downward path
• UK budget will raise inflation
• inflation gauges are generally coming down.
• Services inflation not falling as fast as I would like.
• Labor market easing and wage growth it should come off

Meanwhile, the GBPUSD has moved up to test the next target between 1.2681 and 1.26858. The 100 hour moving averages at 1.2681. The 1.26858 is the high of a swing area. The area is a key barometer for both buyers and sellers in the short term. Move above and traders will look toward the broken 61.8% retracement at 1.27322 (of move up from the April low). Stay below and the lows at 1.26137 and 1.2596 may once again become the focus for the sellers.

This article was written by Greg Michalowski at www.forexlive.com.