UK inflation figures have been released today at 10:30 GMT, coming out mostly better than expected.

CPI y/y: 0.1% vs 0.0% expected, 0.0% previous
Core CPI y/y: 1.2% vs. 0.8% expected, 0.8% previous
RPI y/y: 1.0% vs. 1.0% expected, 1.0% previous
Core RPI y/y: 1.1% vs. 1.0% expected, 1.1% previous

Cable needed no excuse to rally above 50 DMA (1.5610), Previous Week High (1.5660) and five-week range top (1.5670 - 1.5690). It traded up to Weekly Resistance 1 (1.5714) so far and is currently stalling near 1.57 level. Aforementioned range top shall act as a support now. 1.5710 - 1.5725 (Weekly Resistance 1, Daily Resistance 2) is the initial resistance before 1.5750 - 1.5765 (50's, Daily Resistance 3) and 1.5785 - 1.5800 (late June highs, Weekly Resistance 2, Monthly Resistance 1, 00's).

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