Fundamental Focus: GBPUSD Eyes CPI Impact
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Hey Traders, in the coming week we are monitoring GBPUSD for a selling opportunity around 1.26300 zone. GBPUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.26300 support and resistance area. Recent CPI data from the US revealed a core CPI of 0.4% in February, surpassing expectations of 0.3% and indicating inflationary pressure. This suggests that the Federal Reserve may be less inclined to cut rates in March, potentially strengthening the US dollar against the British pound. Keep an eye on this fundamental factor as we assess trading opportunities in GBPUSD. Trade safe, Joe.
Dagangan aktif
We got decent pullbacks approaching the trend, will be watching the price action shortly
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