The currency pair had no tendency last week. GBP/USD attempted to grow but failed and returned to its previous positions on Friday. The currency pair stays above 1,2980 at  the moment of writing.

UK CPI data can be mentioned as the most important indicator last week. UK inflation growth was below expectations and previous reading. As for the GDP m\m data, it was negative.

We expect the currency pair to test the support at 1,2980 in the nearest future. If it breaks the level, GBP/USD is able to move towards 1,2677. Otherwise, we can rely on the uptrend aiming at 1,3232.