The currency pair fluctuated in a range last week due to the uncertainty around the further Fed’s steps.

UK CPI data has met the expectations last week as the indicator reached 2%. Previous reading was 2% as well.

As for the Retail Sales, they have grown significantly to 1,0%. Previous reading was -0,6%. Economists expected the Retail Sales to grow to -0,3%.

The currency pair stays below 1,2677. There are still no signals on the chart. We expect GBP/USD to test the last week lows in the nearest future.