GBP/USD pulls back after clearing the opening range for January, but the exchange rate may attempt to retrace the decline from the December high (1.2828) as it continues to trade within the ascending channel from last year. GBP/USD Forecast: Ascending Channel Remains Intact Ahead of UK CPI GBP/USD registered a fresh monthly high (1.2787) following the kneejerk reaction to the stronger-than-expected US Consumer Price Index (CPI), and the exchange rate may retain a bullish trend over the remainder of the month as it appears to be bouncing back from channel support. Looking ahead, the update to the UK Consumer Price ... (full story)