The GBP/USD pair regains positive traction during the Asian session on Wednesday and climbs to a fresh daily peak, closer to the 1.3100 round-figure mark in the last hour.
GBP/USD attracts some buyers on Wednesday amid a modest USD decline. The fundamental backdrop warrants before placing aggressive bullish bets. Traders might also prefer to wait for the release of the crucial US CPI report. Spot prices, however, remain below the overnight swing high, warranting some caution before positioning for any meaningful recovery from a three-week low, around the 1.3050-1.3045 region touched the previous day.
1% in the three months to July. That said, a slowdown in the UK wage growth was seen as positive news for inflation and might provide the UK central bank with increased confidence regarding cutting interest rates further. Traders might also refrain from placing aggressive bullish bets around the British Pound ahead of the UK data dump, including the monthly GDP print, and the latest US consumer inflation figures.
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