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• GBP/USD eased on Wednesday after data showed British inflation slowed more than expected in February.
• Consumer prices rose 2.8% year-on-year in February, down from 3.0% in January, as clothing and footwear prices declined for the first time in over three years, according to the Office for National Statistics.
• British markets are in the spotlight on Wednesday as Finance Minister Rachel Reeves prepares to unveil spending cuts, seeking to reassure investors of her plan to stabilize public finances amid slowing growth.
• At GMT 09:32, the pair was trading down 0.33 percent at 1.2900
• Immediate resistance is located at 1.3000( Psychological level), any close above will push the pair towards 1.3043(Higher BB)
• Strong support is seen at 1.2869 (38.2%fib) and break below could take the pair towards 1.2722(50%fib).
Recommendation: Good to sell around 1.2900, with stop loss of 1.2950 and target price of 1.2850
