Gbpusd slip on the floor hit on the bottom read the caption

Hot US inflation report justified the Fed’s pushback against early and aggressive interest rate cut expectations, triggering a fresh rally in the US Treasury bond yields and the US Dollar. In light of this, GBP/USD reversed sharply from the weekly high of 1.2681 to as low as 1.2572
The correction in the currency pair gained momentum on Wednesday after the annual CPI inflation in the UK remained unchanged at 4.0% in January, against the market forecast of an increase to 4.2%. reported month, missing estimates of 5.3%.