According to Jinshi data reports, Daria Efanova, head of research at Sucden Financial, stated that the upward trajectory of the GBP/USD is attributed to the improvement in UK-EU relations. The UK and the EU signed agreements to promote trade and strengthen security cooperation.
Technical analysis shows that the GBP/USD position is strong, expected to remain above key moving averages. The recent outlook for GBP/USD is positive, with the potential to rise further to 1.3400.
Market participants remain vigilant about the upcoming UK CPI data and its impact on expectations for Bank of England policy.