went into the weekend near the 1.20860 level, after starting the week near a high around 1.21000.
The movement lower seemed to be a confirmation that financial houses were selling the GBP/USD based on the notion the U.S Federal Reserve will continue to be rather active regarding interest rate policy and that outlook remains unclear.While technical traders may say the sudden surge in buying was because lows on Friday were last seen in November, there is reason to point to fundamentals.
If CPI data from the U.S. meets expectations or comes in slightly lower this could spark additional buying in the GBP/USD.After touching lows on Friday that challenged values seen in the last week of November, the GBP/USD has managed to climb upwards and it is once again within sight of its higher price range.
Consumer Price Index from the U.S. will prove extremely important for the GBP/USD this coming Thursday.
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