In Friday's session, GBP/USD is being traded around 1.2640, registering a variation of 0.14% as investors digest the US February Personal Consumption Expenditures (PCE) figures.
The US PCE Price Index, rose to 2.5% YoY and 0.3% MoM in February, in line with market expectations. The core PCE also met expectations. With inflation indicators in sight, investors will eye next week's employment data, as its influence can potentially postpone any rate cut decision. In Friday's session, GBP/USD is being traded around 1.2640, registering a variation of 0.14% as investors digest the US February Personal Consumption Expenditures figures.
In line with that, hot employment data may push Fed policymakers to delay cuts beyond June and post just two instead of the three forecasted cuts for 2024 which could eventually benefit the US Dollar. GBP/USD technical analysis On the daily chart, the Relative Strength Index for the GBP/USD pair is lingering in the negative territory, currently reading at 44. The prevalence of the RSI within the negative area indicates stronger selling momentum.
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