We need to mention that whenever CPI number exceeds 3.0% target, the BOE chairman is have to write a letter to Prime Minister to explain the situation. And the regulator won't like this tendency at all. So, the chances the BOE dares to tighten soon are growing.
And in such a case the first pair to rise is GBP/USD . It already touched 1.3297 high nearing strong around 1.33. And on Wednesday, we may get another reason to buy pound, as labor data is released.
Better than expected number may help GBPUSD to break the round level higher with initial target at 1.3370, not seen since July, 2016.