GBP/USD breaks below 1.2500 post-UK CPI

The selling interest around the Sterling has picked up extra pace in the wake of UK CPI figures, with GBP/USD trading back below the 1.2500 mark.

GBP/USD offered after data

The downside momentum in spot gathered further traction after inflation figures tracked by the CPI rose less than expected 1.8% YoY during the month of January, missing initial estimates. On a monthly basis, consumer prices contracted 0.5%.

In addition, prices stripping Energy costs rose at an annualized 1.6%.

Ahead in the week, UK’s labour market report is due tomorrow, while Retail Sales are expected on Friday.

GBP/USD levels to consider

As of writing the pair is down 0.35% at 2481 and a breakout of 1.2572 (high Feb.7) would open the door to 1.2680 (high Jan.26) and finally 1.2715 (high Feb.2). On the flip side, the immediate support aligns at 1.2436 (low Feb.10) followed by 1.2344 (low Feb.7) and finally 1.2250 (low Jan.19).