GBP/USD Price Analysis: Cable grinds higher past 1.2760 support confluence, UK inflation eyed GBPUSD Technical Analysis BOE Inflation ChartPatterns
GBP/USD picks up bids to reverse the week-start pullback from the highest levels since April 2022.
Upside break of previous bullish channel adds strength to hopes of witnessing further Cable price run-up.GBP/USD regains upside momentum, after a downbeat start of the week, as it rises to 1.2800 amid the early hours of Tuesday’s Asian session. In doing so, the Cable pair seesaws around the highest levels in 14 months by staying within a one-week-long bullish trend channel., amid upbeat inflation pressure in the UK, also underpin the upside bias surrounding the Pound Sterling price.
With this, the Cable buyers need to witness a clear break of the recent downward spell by crossing the 1.2820 hurdle to recall the bulls.
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