The GBP/USD currency pair experiences slight selling during the Asian session on Wednesday, with prices hovering around the 1.2200 level, down 0.20% for the day. Traders are looking ahead to crucial UK and US Consumer Price Index (CPI) data.

This pressure implies that market sentiment remains cautious while navigating within the previous day’s trading range. Investors stay focused on upcoming economic reports that will guide their positioning.

As market participants prepare for potential fluctuations, the release of inflation data may determine the next directional move in GBP/USD.