GBP/USD maintains a slight decline below 1.2700

On this eventful Wednesday, the story of GBPUSD continues its recovery streak, gracefully dancing along the 34 and 89 EMA lines. The upward momentum has prominently returned as it approaches the Fibonacci level of 0.618, currently hovering around the 1.267 mark. Short-term wisdom primarily leans towards buying strategies, aiming for a swift victory at the peak of 1.270 before grappling with the decision to push towards the resistance level of 1.279 once again!

Meanwhile, all eyes in the market are glued to the upcoming release of the US Consumer Price Index on Wednesday, eagerly anticipating whether it will reflect price pressures surpassing the Fed's target rate. Truly, it is a suspenseful moment as we await signals of whether economic trends will change in favor of us or not.