The UK Office for National Statistics (ONS) is set to release the Consumer Price Index (CPI) data for November on Wednesday at 07:00 GMT. This highly anticipated report is expected to influence the GBP/USD exchange rate significantly. Traders will be closely watching the data for any signs of inflationary pressures, which could impact the Bank of England's monetary policy stance and, in turn, the UK currency's strength against the USD.
Market analysts predict that stronger-than-expected CPI figures could bolster the British pound, potentially driving the GBP/USD pair above key resistance levels. Conversely, lower inflation readings may lead to a bearish sentiment, pushing the currency pair down as traders reevaluate their positions. With the euro also gaining traction against the dollar, fluctuations in the GBP/USD exchange rate will be critical for forex traders navigating these economic indicators.
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Data Source: FX Killer Analysis Team Updated: 2025-12-17 05:46
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.