GBPUSD Set for a Potential Decline as UK CPI Cools to 2.8%
GBP/USD has been consolidating within a narrow range since the beginning of March, struggling to establish a definitive direction. This prolonged indecision suggests that the pair may require a correction before resuming any upward movement.
The latest data from the UK further supports this outlook.
February’s Consumer Price Index (CPI) revealed inflation cooling to 2.8% year-over-year, slightly below the forecasted 2.9%. Additionally, retail sales data fell short of expectations, coming in at 3.4% compared to the projected 3.6%.
As a result, market sentiment could weigh on GBPUSD, potentially driving the pair into a deeper correction.
Key support levels to watch include 1.2865 and 1.2800
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
GBP/USD has been consolidating within a narrow range since the beginning of March, struggling to establish a definitive direction. This prolonged indecision suggests that the pair may require a correction before resuming any upward movement.
The latest data from the UK further supports this outlook.
February’s Consumer Price Index (CPI) revealed inflation cooling to 2.8% year-over-year, slightly below the forecasted 2.9%. Additionally, retail sales data fell short of expectations, coming in at 3.4% compared to the projected 3.6%.
As a result, market sentiment could weigh on GBPUSD, potentially driving the pair into a deeper correction.
Key support levels to watch include 1.2865 and 1.2800
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Note
GBPUSD - near to 1.2874
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✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.