Today at 1:00 PM there should be a very high volatility on pairs with Pound. The reason is the rich macroeconomic calendar, in which, after the inflation report, we will also find decision on interest rates and the speech of the President of the Central Bank. The most interesting GBP pairs is GBP/CHF. We have had slight increases for three days, possibly this is a correction.
The previous correction had more or less the same course, it was a re-test of the broken edge of the channel. The current may be a re-test of recently broken support. So if the data is negatively received by the market, from current levels it may cause a strong downward reaction.