Pound Sterling bulls seem hesitant ahead of UK CPI; GBP/USD capped near 200-day SMA

The GBP/USD pair attracts fresh buyers during the Asian session on Wednesday, with bulls still awaiting a sustained strength beyond the 200-day Simple Moving Average (SMA) before placing fresh bets. The GBP/USD pair attracts fresh buyers during the Asian session on Wednesday, with bulls still awaiting a sustained strength beyond the 200-day Simple Moving Average (SMA) before placing… The GBP/USD pair attracts fresh buyers during the Asian session on Wednesday, with bulls still awaiting a sustained strength beyond the 200-day Simple Moving Average (SMA) before placing fresh bets. GBP/USD regains positive traction as hopes for a de-escalation of the Iran war weigh on the USD.Bets that the BoE could hike interest rates in April act as a tailwind for the GBP and spot prices.Traders now look forward to the latest UK consumer inflation figures for short-term opportunities.The GBP/USD pair attracts fresh buyers during the Asian session on Wednesday, with bulls still awaiting a sustained strength beyond the 200-day… For traders, releases like this can quickly shift rate expectations, currency direction, index futures and broad risk sentiment. Watch the next move in the dollar, front-end yields and index futures to see whether the market prices this release as a true surprise or only a passing headline.