forexeatrading 
UK consumer inflation was weaker than anticipated. The annual fee of worth will increase slowed to 2.8% from 3.0%. It stays nicely above the native low of 1.7% recorded in September. The newest deceleration continues to be extra of a hope than a sign that inflation is slowing, because the earlier studying was the best since March 2024.
Nevertheless, the draw back shock could enable the Financial institution of England to return to chopping interest rates sooner and preserve the tempo of quarterly cuts.
The GBP/USD reacted to the weaker-than-expected knowledge by falling round 0.5% to 1.2885 earlier than stabilizing round 1.2900.
Technically, the Pound is liable to a correction (at the very least) after a 7.5% rally from the January lows. In the midst of final week, the GBP/USD stalled close to 1.3000, and so they have been clearly reluctant to cross the psychologically essential line with out basic help and amid collected native overheating.
Doable correction targets are 1.2800 and 1.2650. The 200-day shifting common and 76.4% retracement degree lie across the former. The 50-day common and 61.8% degree cross the latter.
The FxPro Analyst Staff
