US CPI proved hotter-than-expected, sending the euro lower. Technically, the euro has a few lifelines which challenge the longevity of recent dollar strength
EUR/GBP needs to be monitored for a potential close below the crucial zone of support at 0.8515. Momentum points to the downside with the RSI still a fair distance away from oversold territory and with more high importance UK data still to come, bears will have more data on hand. UK CPI is expected to print higher than the December print, potentially strengthening the pound and sending EUR/GBP even lower.
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