FxWirePro: GBP/USD eases slightly as market await US inflation print, ECB meeting

• GBP/USD eased slightly on Thursday as investors  awaited a key inflation report from the U.S. and European Central Bank policy meeting due later in the day.

• U.S. CPI data is due at 12:30 GMT, with forecasts pointing to a 0.3% monthly rise in August and annual inflation at 2.9%, up from 2.7% in July.

•The European Central Bank announces its rate decision at 12:15 GMT, with no change in borrowing costs widely expected. Markets will focus on President Christine Lagarde’s comments regarding the impact of trade and political risks on policy.

• Meanwhile, the Bank of England’s Monetary Policy Committee meets next Thursday, with money markets widely expecting it to keep interest rates unchanged at 4%.

. • At GMT 11:21, the pound was down  0.07% to 1.3518 against the dollar.

•   Immediate resistance is located at 1.3585(38.2%fib), any close above will push the pair towards 1.3606(Higher BB)

•  Strong support is seen at 1.3498(SMA 20) and break below could take the pair towards 1.3433(50%fib).

  Recommendation: Good to buy around 1.3500  with stop loss of 1.3430 and target price of 1.3570