GBP/USD rallying further, still supported on Forbes hawkish comments

Currently, GBP/USD is trading at 1.2529, up 0.53% on the day, having posted a daily high at 1.2547 with Forbes hawkish comments supporting the bid from a low of 1.2347.

BoE's Forbes: If economy stays solid and inflation pick-up continues, this could soon suggest a rate hike

GBP/USD has been recovering ground with the greenback on wobble across the board within its correction higher today. Attention diverted back to Brexit concerns and uncertainty as we await the outcome of the Article 50 bill that is set to remain in the House of Commons through Wednesday. We await Friday’s trade and industrial production figures as further fundamentals that could impact the price of the pound and remain on our ties in respect to Trump's policies. 

UK: Slowing growth, rising inflation, cautious BoE - Nomura

GBPUSD levels

With the 10 dma acting as first resistance giving bulls a tough time at the time of writing, located at 1.2532, elsewhere, the short-term technicals remain bearish and momentum signals are also bearish according to analysts at Scotiabank, "DMI’s appear poised to provide confirmation, and near-term support appears limited ahead of the mid-1.22s. GBP has tested the 50% retracement of its Jan-Feb rally around 1.2350 and appears set to test the 61.8% Fibo at 1.2261."

UK will fall back on other arrangements if EU can't agree on Brexit agreement within 2-years timeframe - UK’s BrexitMin David Jones

EUR/GBP: Risk to end the year in the 0.89 region - Rabobank