GBP/USD drops further to 1.4130, CPI eyed

The Sterling has now come under renewed selling pressure, dragging GBP/USD to fresh daily lows in the 1.4130 area.

GBP/USD weaker ahead of UK data

Spot is extending its weekly decline against a backdrop of rising jitters on the likeliness of a ‘Brexit’ scenario, while the ongoing risk-off sentiment keeps the demand for GBP on the back footing.

Next on tap for the pair will be UK’s inflation figures for the month of May, with consensus amongst traders expects consumer prices to have gained 0.4% on a yearly basis. Across the pond, US Retail Sales will keep the attention around the buck later in the NA session.

GBP/USD levels to consider

As of writing the pair is retreating 0.90% at 1.4142 and a break below 1.4116 (low Jun.13) would aim for1.4088 (low Apr.14) and then 1.4004 (low Apr.6). On the other hand, the next resistance aligns at 1.4353 (100-day sma) followed by 1.4412 (55-day sma) and finally 1.4463 (20-day sma).