The pound sinks following the dollar. Forecast as of 20.07.2023

A significant inflationary slowdown in Great Britain hit the sterling hard, just like the US inflationary slowdown affected the USD. What’s next? Let’s discuss that and make a trading plan for GBPUSD.

Weekly fundamental forecast for pound sterling

I've got deja vu. A slowdown of consumer prices from 8.7% to 7.9% y-o-y in the UK in June, the minimum level in the past 15 months, made the sterling collapse. Haven't we seen something similar lately? Remember, the USD dropped against major currencies in mid-July as the US CPI slowed to 3% in June. The same happened to the GBPUSD.

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