The near-term chart better depicts the price action in the pair on the week:While the dollar has retreated a little, it hasn't amounted to much in GBP/USD as of yet.The jump after the UK inflation data yesterday stalled upon testing the 100-hour moving average (red line). But buyers have now managed to push past that key near-term level at least. However, they are being resisted by yesterday's high closer to 1.2482 for now at least.In any case, the near-term bias has shifted to being more neutral as price action sits in between the 100 and 200-hour (blue line) moving averages. But buyers are also facing minor resistance and offers closer to 1.2500 for now.To put things more simply, the sligh
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