Ella 
Sterling oscillates around 1.2750 as investors await fresh triggers for further action.
The outlook for the UK economy is bleak as the Bank of England (BOE) prepares to tighten policy further.
Sentiment remained cautious as investors turned their focus to inflation data.
Upside for the British Pound (GBP) appears to be capped as the Bank of England (BOE) hikes in interest rates weigh on the UK housing sector, hiring trends and factory activity. The GBP/USD pair came under pressure as Bank of England policymakers opened the door to further tightening to ensure inflation returns to 2%.
Bank of England Governor Peel appeared confident that UK inflation would slow to 5% this year and would achieve the desired rate in the first half of 2025. On the way to 2% inflation, the UK economy could be in recession. Looking ahead, the second quarter gross domestic product (GDP) data will still be the focus of the market.
