TD Research discusses GBP/USD outlook and sees a room for further decline towards 1.2850 on a break of the 1.3000 level.
"For the rest of the majors, there are local stories at play, especially in the UK.
May upped the ante on the Tory Brexiteer coup by threatening a general election this summer if they derail her Brexit plans. Inflation data offered a nice excuse to chase the momentum lower in GBP, leaving GBPUSD to trade below USDCAD for the first time in quite a while - a symbolic move of the quirkiness of the price action at play.
A break of 1.30 eyes 1.2850 in GBPUSD," TD argues.