GBP/USD is trading at 1.27280, 0.07% up since previous day close. The flat to higher side trading can be seen in Sterling Pound as traders remains optimistic over interest rate cut stance in Fed’s March meeting. The U. K’s CPI rate grew by just 3.9% lower than expected rise of 4.3% in the previous month & the Retail Sales rose by 1.3% from 0.0% previously. The decline in Oil prices & mixed Chinese economic outlook will remain vital for GBP/USD. As seen in the chart, the pair is firmly trading between the Fibo levels 61.8 & 50.0 which indicates an either side breakout on short to medium term basis. Wait & watch strategy may be adopted for the day in GBP/USD.

WTI Oil is trading at $75.49, 0.06% down since previous day close. The Oil prices retreated on Wednesday after tension between Middle-East after Yemen’s Iran-aligned Houthi group attacked the ships in Red Sea seems to be easing down; making the Oil supplies intact. Last week, the prices traded on higher side after Angola announced its exit from OPEC, although it accounts for small portion of overall oil output & supplies by the cartel. The chances of ceasefire talk between Hamas & Israel & uncertain U.S Fed monetary stance will remain vital for Oil prices in future course of time. As seen in the chart, the prices are trading near Fibo level 23.6 & hence, the cautious trading may be recommended for the day.

US100 is trading at 17080, 0.07% up since previous day close. An upward momentum can be seen in U.S markets as indices are trading at record high levels on account of weak U.S PCE Price Index data which raises interest rate cut chances. Other than this, the factors like volatile Crude Oil prices & ceasefire talks between Israel & Hamas remains significant for global markets. The U.S HPI rate grew by 4.9% versus 3.9% in the previous month while the traders will be looking forward to the result of Jobless Claims & Pending Home Sales data due on Thursday. As seen in the H4 chart, the index corrected down till Fibo level 23.6 which turns into major support level & so, the cautious trading may be recommended for the day. Slight buying may be seen for the day in US100.