• GBP/USD steadied around on Wednesday as investors waited for U.S. inflation data, while concerns over Trump's trade policy added to market uncertainty.
• Currency markets focused on U.S. inflation data, set for release at 1330 GMT, which could solidify expectations that the Federal Reserve will maintain current interest rates.
•In contrast, markets are now pricing in more rate cuts from the Bank of England after it reduced the bank rate by 25 basis points last week. Markets are also preparing for Thursday's British GDP data
• At GMT 11:49, the pair was trading up 0.11% at 1.2365
• Immediate resistance is located at 1.2475( 50%fib), any close above will push the pair towards 1.2574(Higher BB)
• Strong support is seen at 1.2350(38.2%fib) and break below could take the pair towards 1.2250(Feb 3rd low).
Recommendation: Be on sidelines


FxWirePro: USD/JPY slides below 154 level, scope for further downside
NZDJPY Pullback: Yen Strengthens on Takaichi's Election Victory – Buy the Dip Toward 96?
FxWirePro- Woodies Pivot(Major)
FxWirePro- Major European Indices
EURGBP Breaks Above 0.8700 on Euro Surge: Bullish Momentum Builds Toward 0.8800+?
FxWirePro: USD/CAD drifts lower, could be on verge of bigger drop
FxWirePro: EUR/ NZD neutral in the near-term, scope for downward resumption
FxWirePro: GBP/AUD extends drop, faces 23.6%fib support
GBPJPY Stuck in Tight Range: Bullish Bias Holds Above 211.50 – Dip Buyers Targeting 215 Breakout?
FxWirePro: USD/ CNY outlook weaker on renewed downside pressure
FxWirePro: GBP/NZD downside pressure builds, key support level in focus
Yen Roars Back: EURJPY Cracks Below 183 – Bears Target 180 on Rallies
NZD/JPY Slips as Yen Strength Returns: Bears Eye Deeper Drop Toward 90.00
GBP/JPY Slips Below 210 as Yen Surge Turns Rallies into Selling Opportunities
FxWirePro: NZD/USD firms, setting up for next leg higher 



