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Sterling fell 0.27% against the dollar on U.S. inflation data, which suggested the Federal Reserve may delay cutting interest rates.
The pair’s recent failure to break above the 200-day moving average of 1.2557 highlights its downward bias, with current support levels in focus.
If a “dark cloud cover” candlestick pattern forms, further declines could target 1.2400, with a possible extension to the year-to-date low of 1.2300.
GBP/USD fell back during the mid-North American trading session, falling below 1.2500. Data from the United States shows that inflation is rising, which will hinder the Fed’s intention to cut interest rates. GBP/USD is trading at 1.2481, down 0.27%.
