GBP/USD steady as UK CPI meets expectations, US jobless claims awaited

GBP/USD remains range-bound near 1.2750 following the release of UK inflation data that aligned with market expectations. The UK Consumer Price Index showed headline inflation holding at 2.3% year-over-year, matching forecasts and keeping Bank of England rate cut expectations unchanged. Core CPI also met predictions at 3.9%, suggesting persistent underlying price pressures. The sterling's reaction was muted as traders had already priced in these levels. Focus now shifts to US Jobless Claims data due later today, which could provide fresh directional momentum for the pair. Technical indicators show GBP/USD consolidating between 1.2720 support and 1.2780 resistance. The absence of significant surprises in UK inflation data maintains the status quo for BoE policy expectations, with markets still pricing gradual rate cuts through 2025.