Thursday (March 23) Asian session, GBP / USD rose, currently trading at 1.Near 2288, as of 9: 21 Beijing time, the latest price of the pound against the dollar was 1.2289, up 0.20%。The lowest price of GBP / USD on the previous trading day was 1.2207, closing at 1.2264。Analyst Francesco Pesole said the data, along with a temporary recovery in market sentiment, reinforced the likelihood of the Bank of England raising interest rates on Thursday.。

Sterling rose after UK data released on Wednesday showed an unexpected acceleration in inflation, but the rise may be temporary。"However, our economic team still sees a strong likelihood of a pause in May and we continue to see the direction of EUR / GBP as bullish in the coming weeks."。Figures released earlier showed UK year-on-year inflation in February was up from 10 in January..1% to 10.4%。

GBP / USD Technical Analysis

GBP / USD faces first resistance 1.2300, which is the midpoint of the rising return channel in early March。On top of this barrier, 1.2330 (January's former support, static resistance) can be seen as the upper limit of the upward channel of this pair of currency targets 1.Next resistance before 2370。