• GBP/USD steadied around on Wednesday as investors waited for U.S. inflation data, while concerns over Trump's trade policy added to market uncertainty.
• Currency markets focused on U.S. inflation data, set for release at 1330 GMT, which could solidify expectations that the Federal Reserve will maintain current interest rates.
•In contrast, markets are now pricing in more rate cuts from the Bank of England after it reduced the bank rate by 25 basis points last week. Markets are also preparing for Thursday's British GDP data
• At GMT 11:49, the pair was trading up 0.11% at 1.2365
• Immediate resistance is located at 1.2475( 50%fib), any close above will push the pair towards 1.2574(Higher BB)
• Strong support is seen at 1.2350(38.2%fib) and break below could take the pair towards 1.2250(Feb 3rd low).
Recommendation: Be on sidelines
