GBP/USD has traveled within a range of 1.2379 and 1.2456 on the day and is up around 0.3% currently at 1.2420.
The British pound has found solid ground in a key support area amidst improved risk sentiment, helping to keep sterling towards the 10-month high it reached last week as traders bet that interest rates would soon peak and come down later this year.
Domestically, the Bank of England Governor Andrew Bailey is scheduled to speak on Wednesday and could give clues on the future path for monetary policy, but attention is on the US Consumer Price Index also. Analysts at TD Securities argued that core prices likely cooled off modestly in March, which could result in an even softer US dollar leading to higher Cable.
Meanwhile, the following illustrates the technical landscape leading into tomorrow´s events:
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