The pair will likely keep falling as bears target the next key support at 1.3700.
The GBP/USD retreated during the overnight session even after a relatively dovish Jerome Powell testimony.
The Bitcoin price is still in a consolidation mode even after the strong US inflation data.
The price has room to fall below 0.7420.
A strong rebound from a new low is discouraging bears.
The price is being threatened by a major bearish breakdown.
The UK CPI came in high at 2.5%.
The AUD/USD pair erased some of the losses made on Tuesday after the strong US consumer inflation data.
The EUR/USD crashed to the lowest level since April this year after the strong US Consumer Price Index (CPI) data.
Yet the price looks well supported at 0.7450.
The range is likely to hold but resistance is more defined than support.
The BTC/USD pair is still in consolidation mode as investors wait for the next catalyst.
The GBP/USD pair tilted upwards ahead of the latest US inflation data and the upcoming UK reopening.
Volatility has declined significantly.
Support at 1.3831 looks likely to be strong.