GBP/USD Struggles Amid Softer UK CPI Figures
The GBP/USD trading pair faces challenges as it recovers from the 1.2100 mark, the lowest point since November 2023. Recent consumer inflation figures released from the UK have contributed to this modest recovery. However, subdued price action concerning the U.S. dollar is giving some support, allowing the pair to inch upwards. The market is reacting to a blend of technical factors and fundamental data, which has not yet created a definitive movement trend. Traders should be alert as fluctuations can change quickly based on further economic announcements.ย The combination of recent data points out a market caught between recovery attempts and reactive selling pressure, keeping traders on their toes.
Newsletter
Get Every Weekly Update & Insights
[mc4wp_form id=]