GBP/USD touched a low of 1.3312 upon the release but bounced back
And now is slowly tracking lower again just under the 1.3320 handle after bouncing back up to 1.3330. The inflation report failed to offer any new developments to the wage rhetoric and that means there isn't anything to add to the BOE rate hike picture as well.
With that out of the way, what is the chart telling us?
Since there are no new developments, the technical picture continues to highlight that sellers are in charge in the near-term - as price continues to trade under the 100 and 200-hour moving averages.
The break of yesterday's low @ 1.3342 now opens up a move to test bids at the 1.3300 figure level as well as the support from 4 June @ 1.3295. Those will be key levels for buyers to put a defense in the near-term at least.