Here are the key factors to keep in mind today for British Pound trades:

• UK CPI: The UK CPI for May is predicted to increase by 0.2% monthly and by 2.7% annualized. Forex traders can compare this to the UK CPI for April which increased by 0.5% monthly and by 2.7% annualized. The Core CPI for May is predicted to increase by 2.4% annualized. Forex traders can compare this to Core CPI for April which increased by 2.4% annualized.
• UK PPI: The UK PPI Input for May is predicted to decrease by 0.5% monthly and to increase by 13.5% annualized. Forex traders can compare this to the UK PPI Input for April which increased by 0.1% monthly and by 16.6% annualized. The UK PPI Output for May is predicted to increase by 0.1% monthly and by 3.6% annualized. Forex traders can compare this to the UK PPI Output for April which increased by 0.4% monthly and by 3.6% annualized. The UK PPI Core Output for May is predicted to increase by 0.2% monthly and by 2.9% annualized. Forex traders can compare this to the UK PPI Core Output for April which increased by 0.5% monthly and by 2.8% annualized.
• UK RPI: The UK RPI for May is predicted to increase by 0.3% monthly and by 3.5% annualized. Forex traders can compare this to the UK RPI for April which increased by 0.5% monthly and by 3.5% annualized. The UK RPI Excluding Mortgage Interest Payments for May is predicted to increase by 3.8% annualized. Forex traders can compare this to the UK RPI Excluding Mortgage Interest Payments for April which increased by 3.8% annualized.
• UK House Price Index: The UK House Price Index for April is predicted to increase by 3.6% annualized. Forex traders can compare this to the UK House Price Index for March which increased by 4.1% annualized.

Here are the key factors to keep in mind today for US Dollar trades:

• US NFIB Small Business Optimism Index: The US NFIB Small Business Optimism Index for May is predicted at 105.0. Forex traders can compare this to the NFIB Small Business Optimism Index for April which was reported at 104.5.
• US PPI: The US PPI for May is predicted flat at 0.0% monthly and to increase by 2.3% annualized. Forex traders can compare this to the US PPI for April which increased by 0.5% monthly and by 2.5% annualized. The US Core PPI for May is predicted to increase by 0.1% monthly and by 2.0% annualized. Forex traders can compare this to the US Core PPI for April which increased by 0.4% monthly and by 1.9% annualized.

Should price action for the GBPUSD remain inside the or breakout above the 1.2625 to 1.2675 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.2650
• Take Profit Zone: 1.3000 – 1.3050
• Stop Loss Level: 1.2500

Should price action for the GBPUSD breakdown below 1.2625 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.2575
• Take Profit Zone: 1.2450 – 1.2500
• Stop Loss Level: 1.2675

Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.