Europe CPI Priced In-GBP Touches 1.14 First Time Since 1985

Today Europe will be releasing economic data for the report CPI (YoY) (Aug) Forecast: 9.1% Previous: 9.1%. A surprise of a lower value can be weaker for the euro while a higher value can be bullish for the euro indicating higher inflation. The Consumer Price Index (CPI) tracks the fluctuation in the price of goods and services from the aspect of the average consumer. It is furthermore a strong way to view fluctuation in purchasing trends and inflation.
It seems that the euro was due for a continued weekly uprise but next week Powell is looking to raise rates and the market is expecting a 75 or even 100 basis point increase and this can be further bearish for the euro also stocks and cryptocurrencies. A lot of monthly indicators in the US stock market equities were showing bullish momentum during the start of August and September but there is a slow delay due to the rate hikes.
Citibank recently stated, "The dollar is the only place to hide in 2022", suggesting there is an ongoing concern for equities and cryptocurrencies due to rising yields. The US dollar seems to be the continued major safe haven asset investment by banks and major hedge funds. Powell looks to continue to raise rates untill the end of 2022, untill then the dollar can fundamentally continue to rise, after this the dollar could decline next year while the stock market and cryptocurrencies can see a potential inflection point.
From a technical perspective the EURUSD 4H chart RSI holds near 43 around neutral. The default MACD line has had trouble rising about the signal line. The histogram was rising but has failed to break above the zero axis. The market will be watching the key CPI report news which will be released soon.
The Great British Pound Sterling touches 1.14, the first time since 1985. $EUR/USD
The EURUSD pair has recently touched the 4H 20SMA.

Ilyas Khan Top1 Markets.