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

• UK CPI: The UK CPI for August increased by 0.7% monthly and by 2.7% annualized. Economists predicted an increase of 0.5% monthly and of 2.4% annualized. Forex traders can compare this to the UK CPI for July which was reported flat at 0.0% monthly and which increased by 2.5% annualized. The Core CPI for August increased by 2.1% annualized. Economists predicted and increase of 1.8% annualized. Forex traders can compare this to Core CPI for July which increased by 1.9% annualized.
• UK RPI: The UK RPI for August increased by 0.9% monthly and by 3.5% annualized. Economists predicted an increase of 0.6% monthly and of 3.2% annualized. Forex traders can compare this to the UK RPI for July which increased by 0.1% monthly and by 3.2% annualized. The UK RPI Excluding Mortgage Interest Payments for August increased by 3.4% annualized. Economists predicted an increase of 3.2% annualized. Forex traders can compare this to the UK RPI Excluding Mortgage Interest Payments for July which increased by 3.3% annualized.
• UK PPI: The UK PPI Input for August increased by 0.5% monthly and by 8.7% annualized. Economists predicted an increase of 0.5% monthly and of 9.1% annualized. Forex traders can compare this to the UK PPI Input for July which increased by 0.5% monthly and by 10.3% annualized. The UK PPI Output for August increased by 0.1% monthly and by 2.9% annualized. Economists predicted an increase of 0.2% monthly and of 2.9% annualized. Forex traders can compare this to the UK PPI Output for July which increased by 0.1% monthly and by 3.1% annualized. The UK PPI Core Output for August increased by 0.1% monthly and by 2.1% annualized. Economists predicted an increase of 0.2% monthly and of 2.1% annualized. Forex traders can compare this to the UK PPI Core Output for July which increased by 0.1% monthly and by 2.3% annualized.
• UK House Price Index: The UK House Price Index for July increased by 3.1% annualized. Economists predicted an increase of 2.8% annualized. Forex traders can compare this to the UK House Price Index for June which increased by 3.2% annualized.

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

• US Current Account Balance: The US Current Account Balance for the second-quarter is predicted at -$103.3B. Forex traders can compare this to the US Current Account Balance for the first-quarter which was reported at -$124.1B.
• US Housing Starts and Building Permits: US Housing Starts for August are predicted to increase by 5.7% monthly to 1,235K starts and Building Permits are predicted to increase by 0.5% monthly to 1,310K permits. Forex traders can compare this to US Housing Starts for July which increased by 0.9% monthly to 1,168K starts and to Building Permits which increased by 1.5% monthly to 1,311K permits.

Should price action for the GBPUSD remain inside the or breakdown below the 1.3175 to 1.3230 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.3200
• Take Profit Zone: 1.2785 – 1.2810
• Stop Loss Level: 1.3290

Should price action for the GBPUSD breakout above 1.3230 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.3235
• Take Profit Zone: 1.3370 – 1.3445
• Stop Loss Level: 1.3160

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