April’s rise in UK services inflation was mostly down to a temporary spike in air fares and package holidays caused by the timing of Easter—an effect that should unwind soon, ING's FX analyst Francesco Pesole notes.
GBP/USD trades higher for the fourth successive day with trading around 1.3430 during the Asian hours on Thursday.
Pound Sterling (GBP) could edge higher and test 1.3420; the major resistance at 1.3445 is likely out of reach for now. In the longer run, GBP could continue to rise; based on the current momentum, it might find 1.3445 difficult to break, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.