The British pound attracted fresh selling as the U.S. dollar bounced back against the major currencies on Thursday morning. It made a fresh intraday low at the 1.31436 mark and is currently consolidating the gains of the previous session. Investors are waiting for the US Consumer Price Index data report which may force the US Federal Reserve to support 50 basis points in the rate-hike. If the data report exceeds the market expectations, then the British pound may witness further selling pressure. The GBP/USD may retreat towards the next immediate support level at the 1.3100 mark, providing a short-term selling opportunity.
