GBP/USD pulled back as UK Inflation Rate missed analyst expectations

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GBP/USD Pulls Back As Traders React To Inflation Data

GBP/USD pulls back as traders react to inflation data from the UK. Inflation Rate declined from 3% in January to 2.8% in February, compared to analyst forecast of 2.9%. Core Inflation Rate decreased from 3.7% to 3.5%.

In case GBP/USD settles below the 1.2900 level, it will head towards the nearest support level, which is located in the 1.2810 – 1.2830 range.

GBP/USD 270325 4h Chart

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