Following a down week, the Pound Sterling (GBP) regained its lost footing against US Dollar (USD), with GBP/USD clinching the highest level in seven months near the 1.2900 mark.
The Pound Sterling rebounded firmly, as the US Dollar sagged on policy easing expectations. US CPI inflation data to stand out in another event-packed week ahead. Looking ahead, GBP/USD buyers can stay hopeful amid a triangle breakout. Following a down week, the Pound Sterling regained its lost footing against US Dollar , with GBP/USD clinching the highest level in seven months near the 1.2900 mark.
Meanwhile, on Friday, the preliminary University of Michigan Consumer Sentiment and Inflation Expectations data will be closely eyed. It will be a quiet week in terms of speeches from Fed policymakers as the US central bank enters the “blackout period” on Saturday ahead of the March 19-20 policy meeting. GBP/USD: Technical Outlook As observed on the daily chart, GBP/USD remains poised to extend its upside break from the symmetrical triangle.
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