GBP/USD Crashes After UK Inflation Data

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GBP/USD Crashes After UK Inflation Data

GBP/USD plummeted to near 1.2980 as soft UK inflation prompted dovish bets on the Bank of England (BoE).
UK service inflation slowed to 4.9%, and the core Consumer Price Index (CPI) decelerated to 3.2% in September.

Conversely, the USD is bolstered by the likelihood that the Federal Reserve (FED) may avoid aggressive interest rate cuts.

GBP/USD may experience a temporary correction, with the price likely to move down in the coming hours or days.

You may find more details in the chart!
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