GBPUSD | Bullish triangle with liquidity problem

In the Forex market, there is a consistent upward movement of the US dollar, impacting overall risks and causing the GBP/USD pair to trim its initial gains, descending towards 1.2700. However, the GBP/USD remains above the lower limit of the ascending regression channel, and the Relative Strength Index (RSI) signals a bullish trend in the short term. Key levels include resistances at 1.2780, 1.2830, and 1.2860, and supports at 1.2750, 1.2710-1.2700, and 1.2670. Despite a brief dip below 1.2700, the GBP/USD closed positively above 1.2750 on Thursday. The improvement in risk sentiment supports the pair on Friday, as markets await PPI data from the USA. Thursday's CPI inflation data exceeded estimates, but markets do not rule out a Fed interest rate cut in March. The UK's Office for National Statistics (ONS) reports a 0.3% monthly GDP growth in November, keeping the British Pound resilient. The UK's FTSE 100 is up by 0.8%, reflecting a positive mood in European markets. An increase in US PPI inflation is expected in December, but the impact on the USD will depend on its significance.