GBPUSD - The uptrend is still waiting for a new breakthrough

The GBP/USD pair has broken away from the recent lows around 1.2620, rallying to 1.2660 at the start of the Asian trading session on Thursday. A renewed demand for the US Dollar (USD) ahead of significant events in the US is putting pressure on the major GBPUSD currency pair.

Investors are now eagerly awaiting the release of the US Personal Consumption Expenditures (PCE) Index for January later in the day for new directional impetus.