GBPUSD

The pound experienced a partial decline following the release of U.S. CPI data. Strong employment and wage growth figures from the UK labor market suggest that the BoE's interest rate cut cycle is stronger compared to other central banks. Today's PPI and retail sales data from the U.S. could be decisive for the short-term direction of the pair. GDP growth figures and retail sales data to be released from the UK today will shed light on the BoE's near-term monetary policy decisions. The 1.3283 pivot level is considered a critical threshold to be monitored from a technical perspective. A recovery in pricing above this level is anticipated; however, due to the interest rate cut policy, it is expected that sharp sell-offs may recur.