GBP/USD holds steady near the low end

GBP/USD waffled just below the 1.2600 handle on Tuesday.

Pound Sterling bidders remain elusive amid data-light schedule.

Overall market sentiment is twisting ahead of key US inflation figures.

GBP/USD churned chart paper just below 1.2600 on Tuesday, marking out familiar territory as the Pound Sterling struggles to find an intraday direction against the Greenback. A limited data schedule on either side of the Atlantic kept Cable traders locked in place, but looming US inflation data could spark a fresh round of volatility ahead of the US Thanksgiving holiday slated for Thursday.

A raft of financial activity figures from the UK are slated for release on Friday, but the figures are broadly low-tier and will have a limited impact. Some particularly-studious Pound Sterling traders will be keeping one eye on the Bank of England’s latest Financial Stability Report, also due Friday, but market movement is likely to be limited from the print.

Wednesday will bring another update to US Personal Consumption Expenditure Price Index (PCEPI) inflation, a key reading of price increases underpinning the US economy. Wednesday also brings a quarterly update of US Gross Domestic Product (GDP) growth. Annualized core PCEPI inflation is set to accelerate again in October and forecast to increase to 2.8% from the previous 2.7%. QoQ US GDP growth in the third quarter is expected to hold steady at 2.8%.