The Pound Sterling (GBP) built on the previous week’s rebound against the US Dollar (USD), driving the GBP/USD pair back toward 1.2800, the highest level in nearly three weeks.
The Pound Sterling extended the previous week’s rebound against the US Dollar. GBP/USD looks forward to the US CPI inflation data for the next push higher. The 1.2900 level and the bullish daily RSI could continue to lure Pound Sterling buyers. The Pound Sterling built on the previous week’s rebound against the US Dollar , driving the GBP/USD pair back toward 1.2800, the highest level in nearly three weeks.
On Thursday, all eyes will be on the US Consumer Price Index release for June, which will provide fresh hints on the timing of the Fed’s first rate cut this year. Ahead of that, the UK monthly Gross Domestic Product could entertain Pound Sterling traders. Friday will feature the US Producer Price Index report, followed by the preliminary University of Michigan Consumer Sentiment and Inflation Expectations data, winding down a mediocre week.
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