Anna 
The GBP/USD pair experienced a rebound following the recent risk rally, with the pound regaining some ground against the US dollar. Despite this recovery, bulls face an immediate challenge at the psychological barrier of 1.2500 as the new week commences, with price action indicating a reluctance to push higher. Furthermore, the 200-day Simple Moving Average (SMA) looms at 1.2557, presenting an additional hurdle should initial attempts at breaking above 1.2500 falter.
The Bank of England’s recent dovish stance, particularly highlighted by comments from Dave Ramsden, casts a shadow over the pound’s potential gains.
Ramsden’s statements indicate a belief that inflation will decline sharply through the summer and could remain subdued thereafter, adding to the headwinds faced by sterling bulls in the current market environment. This cautious outlook from the BoE could limit upward momentum for the GBP/USD pair in the near term.
