Pound Sterling trades with mild losses around 1.2675

FXStreet Team FXStreet

GBP/USD clings to mild losses below 1.2700 ahead of US CPI data

The GBP/USD pair trades with a mild negative bias near 1.2675 during the early Asian session on Wednesday. The USD Index (DXY) consolidates just above the 104.00 yardstick amid the cautious mood. Investors await the US Consumer Price Index (CPI) inflation data, along with the speech of Fed’s Bowman and Goolsbee later in the day.

Some Federal Reserve (Fed) officials offered their hawkish language. Chicago Fed President Austan Goolsbee said on Monday that the recent jobs report was “quite strong”, but the central bank must weigh how much longer it can maintain its current interest rate stance without damaging the economy. Meanwhile, Minneapolis Fed President Neel Kashkari said that the labor market is no longer ‘red hot’ but remains tight. He said his base case is that inflation continues to ease. Read more...

GBP/USD retreats from 1.2700 as investors brace for the US CPI release

The Pound has found some supply at levels right above the 1.2700 area before pulling back with investors cutting back short USD positions ahead of the US inflation release. The pair, however, remains moderately positive for the second consecutive day.

All eyes are on the US Consumer Prices Index data, due on Wednesday, which is expected to confirm that price pressures remain steady well above the Fed’s target rate. Read more...

GBP/USD

Overview
Today last price	1.2676
Today Daily Change	-0.0002
Today Daily Change %	-0.02
Today daily open	1.2678

Trends
Daily SMA20	1.2667
Daily SMA50	1.2666
Daily SMA100	1.267
Daily SMA200	1.2587

Levels
Previous Daily High	1.2709
Previous Daily Low	1.2649
Previous Weekly High	1.2684
Previous Weekly Low	1.2539
Previous Monthly High	1.2894
Previous Monthly Low	1.2575
Daily Fibonacci 38.2%	1.2686
Daily Fibonacci 61.8%	1.2672
Daily Pivot Point S1	1.2648
Daily Pivot Point S2	1.2618
Daily Pivot Point S3	1.2588
Daily Pivot Point R1	1.2709
Daily Pivot Point R2	1.2739
Daily Pivot Point R3	1.2769

Author

FXStreet Team

FXStreet

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