Anna 
GBP/USD is on an upward trajectory for the third consecutive session on Friday, building on this week’s robust recovery from levels below 1.2600, the lowest since December 13. The currency pair is presently hovering just above the 1.2700 mark, aligned with the 200-hourly simple moving average.
Investors have tempered expectations for an early interest rate cut by the Bank of England (BOE) following the release of data by the Office for National Statistics (ONS) on Wednesday, revealing a rise in the consumer price index (CPI) for the first time in 10 months. This, combined with a weakened US dollar, is contributing to the favorable conditions for GBP/USD.
Despite this, the diminished likelihood of a more aggressive easing stance from the Federal Reserve is limiting gains in US Treasury yields, offering some support for GBP/USD. This dynamic may curb traders from making bold directional moves on GBP/USD and could impede further advances ahead of the release of UK monthly retail sales data.
