GBPUSD today

6 days agoHello everyone!

The GBP/USD pair continues to undergo strong pressure, currently trading is nearly 1,3045 when the market responds to the latest American inflation data. Report on economic activity at the European session also put more significant pressure on the pound.

Despite the decrease in total inflation, both CPI and CPI core increased beyond expectations, increasing by 0.2% and 0.3% respectively. This information has caused traders to lower the expectation that the Federal Reserve will cut the 50 -point interest rate, with the possibility that the market is currently priced at 85% for a 25 -point cut.

The trend analysis: The current decrease trend of GBP/USD is being strengthened by inflation data beyond expectations from the US, helping to strengthen the strength of the dollar and increase pressure on the pound. Lack of positive factors from the British economy, at the same time with weak economic figures, GBP/USD opposite the risk continues to decline deeply. The support level of 1,3045 is an important block, but if this level is broken, the downtrend may accelerate significantly. Traders should be wary of any signs of breaking below this threshold, as it can trigger a stronger discount.