The Pound Sterling Price News and Forecast shows that GBP/USD has retreated below 1.3100 as traders keep an eye on key US CPI data. The currency pair is currently facing some downward pressure as market participants await the release of important inflation figures from the United States. The GBP/USD exchange rate has dipped below the 1.3100 level, indicating a bearish sentiment among traders.
The upcoming US CPI data is expected to have a significant impact on the currency pair’s movement. If the inflation numbers come in stronger than expected, it could lead to a further decline in the GBP/USD exchange rate. On the other hand, weaker-than-expected inflation figures could provide some support to the Pound Sterling.
Overall, the Pound Sterling Price News and Forecast suggests that traders should closely monitor the upcoming US CPI data to gauge the direction of the GBP/USD exchange rate. The market sentiment is currently cautious, with traders waiting for more clarity on the inflation front before making any significant moves.