Following a quiet Asian session, GBP/USD edged higher to the 1.2200 area in the European morning on Wednesday. The technical outlook is yet to point t
GBP/USD Forecast: Buyers could show interest once 1.2200 is confirmed as support o a build up of bullish momentum but additional gains could be seen if the pair starts using 1.2200 as support. Inflation in the UK, as measured by the change in the Consumer Price Index , held steady at 6.7% on a yearly basis in September, the Office for National Statistics reported on Wednesday. This reading came in higher than the market expectation of 6.5%. The annual Core CPI rose 6.
Pound Sterling struggles to extend upside as high inflation dampens economic outlook The Pound Sterling discovered buying interest after the United Kingdom ONS reported that inflation in September remained higher than expectations. The GBP/USD pair could come out of the woods as the stalled inflation report would elevate risks of further policy-tightening by the Bank of England in the November monetary policy meeting.
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