"GBP/USD: Impact of Consumer Price Index on Pair Movement"
The GBP/USD pair hopes to strengthen its position after a good rebound from levels below 1.2600. The increase in the Consumer Price Index (CPI) in the UK in December served as the basis for this upward movement. The report showed a rise to 4.0%, the first increase in 10 months.
The market assesses the probability of a Bank of England (BoE) interest rate cut in May at around 60%, compared to over 80% the previous Tuesday. This, in turn, supports the British pound. The decline in the US dollar after its recent surge also contributes to the pair's strength.
Trading recommendation: Primarily trade on sell (Sell), monitor the level of 1.2700. Important macroeconomic news today may affect GBP/USD.
#Forex #GBPUSD #BoE #CPI #TradingRecommendation
The GBP/USD pair hopes to strengthen its position after a good rebound from levels below 1.2600. The increase in the Consumer Price Index (CPI) in the UK in December served as the basis for this upward movement. The report showed a rise to 4.0%, the first increase in 10 months.
The market assesses the probability of a Bank of England (BoE) interest rate cut in May at around 60%, compared to over 80% the previous Tuesday. This, in turn, supports the British pound. The decline in the US dollar after its recent surge also contributes to the pair's strength.
Trading recommendation: Primarily trade on sell (Sell), monitor the level of 1.2700. Important macroeconomic news today may affect GBP/USD.
#Forex #GBPUSD #BoE #CPI #TradingRecommendation
GBPUSD: Awaiting GDP Data
GBPUSD holds above 1.2500. Upside capped by weak UK inflation data.
Investors eye Q4 UK GDP data (forecast: +0.1%).
BoE Governor Bailey says inflation to fall to target level by spring.
Trade recommendation:
Buy orders anticipating further rise.
#GBPUSD #Pound #Dollar #BoE #Bailey #GDP #Forex #Analysis
GBPUSD holds above 1.2500. Upside capped by weak UK inflation data.
Investors eye Q4 UK GDP data (forecast: +0.1%).
BoE Governor Bailey says inflation to fall to target level by spring.
Trade recommendation:
Buy orders anticipating further rise.
#GBPUSD #Pound #Dollar #BoE #Bailey #GDP #Forex #Analysis