On Thursday GBP/USD is trading in different directions near the key level of 1.1500. In the Asian session the sellers tried to keep this support, but with the opening of the European markets the initiative passed to the buyers of sterling.
Yesterday the UK consumer inflation report came out, according to which in August the consumer price index retreated from the maximum mark of 10.1% to 9.1%. The core producer price index fell from 14.4% to 13.7%.
Today investors' attention is focused on U.S. statistics - retail sales report, industrial production data and the release on the number of jobless claims. The UK retail sales report will be released on Friday.
Technical analysis on GBP/USD
The MFI and the Bollinger Bands show slight declines while the MACD remained in the negative area and created a weak buy signal. The stochastic oscillator is testing for a break-down of the 20% level from above.

After the price fixation below support at 1.1478, we return to short positions with the target at 1.1404. Stop-loss is set at 1.1520.
In case buyers take the initiative, we need to wait for a strong resistance breakthrough at 1.1531. The nearest strengthening target is at 1.1647. In this case, the stop-loss is set at 1.1478.