GBPUSD NEXT MOVE

Sticky UK CPI earlier this week was not enough to maintain the pound’s turnaround as geopolitical tensions in the Middle East remains the dominant theme at present. Diplomatic efforts to address the conflict have since been diminished after a hospital explosion, stoking pressures within the region between Israel and Hamas. The safe haven US dollar will draw greater attention in this environment but the address by Fed Chair Jerome Powell later today (see economic calendar below) will be the focus for cable.

GBP/USD ECONOMIC CALENDAR (GMT +02:00)