Above estimates

The new figures from ONS today showed that the UK inflation rate has increased above expectations in March.

CPI is uplifted by 0.5% in March, above the estimates of 0.4% and above February’s

0.3%. The rate has been increasing very softly since October 2015 regardless of the fact that in historical overview, the rate is still low.

The main engine of the rises is the airfreight, along with clothing prices.
Amid the positive data GBP/USD is trading above $1.43 as the pound leaped with 20 pips upon the news.

The intraday technical outlook is positive, following the bullish momentum from yesterday, topped at $1.4286 and while staying above the support located at $1.4200. A stronger resistance could be found at $1.4260 and breaking above it should retarget $1.4320 and most likely $1.4350 in short-term.