GBP/USD remains under pressure following the larger-than-expected downtick in the UK Consumer Price Index (CPI), and a close below the former-resistance zone around the June high (1.2848) may lead to a larger decline in the exchange rate as the Relative Strength Index (RSI) continues to come off of overbought territory. GBP/USD Outlook: Post-UK CPI Weakness Spurs Test of Former Resistance GBP/USD weakens for the fifth consecutive day amid the failed attempt to test the April 2022 high (1.3167), and the British Pound may face headwinds ahead of the Bank of England (BoE) interest rate decision on August 3 amid ... (full story)