$GBPUSD Forecast: Pound bulls back away on hot UK inflation by eren_fxstreet forex trading
The data published by the UK's Office for National Statistics revealed on Wednesday that inflation, as measured by the Consumer Price Index , climbed to a new 30-year high of 6.2% on a yearly basis in February from 5.5% in January. This print surpassed the market expectation of 5.9% and caused GBP/USD to edge lower.
On the downside, 1.3250 aligns as key support. If bulls continue to defend this level, the pair could eye 1.3300 before pushing higher toward 1.3350 .Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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