Eurozone Core Harmonized Index of Consumer Prices (MoM) remains unchanged at 0.4% in June

The current price movements are likely part of a 1.3360/1.3460 consolidation phase. In the longer run, GBP view is still negative; the next technical target at 1.3320 may not come into view so soon, as it could consolidate first, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.