No major events are expected today.

On Tuesday, the GBP/USD pair saw a slight uptick, allowing the cable to return to the upper boundary of short-term consolidation and hold bids near the 200-day exponential moving average (EMA). Consumer sentiment in the US declined in February, raising concerns about slowing economic growth, while former US President Donald Trump reaffirmed his intention to impose strict import taxes on his citizens as a threat of a trade war against the US’s closest trading partners.

Despite the weakening consumer sentiment, mainly driven by concerns over Trump’s tariff plans, the cable markets maintained a positive outlook on Tuesday. Even with the renewed attempts by Trump to initiate a trade war, markets continue to believe that, at the last moment, the US president will find a reason to abandon his own tariff threats.

Wednesday’s economic calendar remains light for both the US and the UK, though markets are eagerly awaiting the release of US Gross Domestic Product (GDP) data later this week, scheduled for Thursday. Friday will round off the week with updated US Personal Consumption Expenditures (PCE) inflation data, a key indicator that investors hope will show that the recent rise in the core Consumer Price Index (CPI) has not significantly affected broader inflation metrics.

Recommendation: BUY 1.2650, SL 1.2600, TP 1.2730.