GBPUSD – Flat
GBPUSD trading plan:
British shop price inflation picked up this month to reach its highest rate since industry records began in 2005, although growth in food prices cooled slightly, a fresh survey showed. The British Retail Consortium said prices in supermarkets and retail chains rose 9.0% in the year to May, after an 8.8% increase in April. Official food price inflation, which earlier this year rose to its highest rate since 1977, slowed only marginally to 19.1% from 19.2%. The slow in food inflation was largely driven by lower energy and commodity costs starting to filter through to lower prices of some staples including butter, milk, fruit and fish.
Investment idea: sell 1.2360 and take profit 1.2300.
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