GBP/USD: remains consolidated with a bullish bias - Scotiabank

Analysts at Scotiabank explained that GBP is consolidating in a tight range around 1.25 following Tuesday’s impressive rally.

Key Quotes:

"GBP is consolidating in a tight range around 1.25 following Tuesday’s impressive rally driven by hawkish commentary from BoE MPC member Forbes. Article 50 deliberations are set to continue in the House of Commons with a final vote late Wednesday." 

"Domestic risk is set to remain elevated into the end of the week as we look to the upcoming RICS house price data ahead of Friday’s trade and industrial production figures."