The GBP/USD currency pair surged upward on Wednesday for no apparent reason. On Tuesday, the pound also exhibited volatility of more than 100 pips, which can be easily explained by a resonant inflation report. Traders expected U.S. inflation to slow to 3.8%, but the actual figure was 3.5%.

The EUR/USD currency pair continued to trade within a narrow sideways channel on Wednesday, which is clearly visible on the 4-hour timeframe. On Tuesday, inflation data for June was released in the United States, and traders had high hopes.

The GBP/USD currency pair also traded very cautiously on Tuesday, despite Kevin Warsh's speech, the publication of the U.S. inflation report, and a new escalation in the Middle East. In principle, each of these events can be viewed through different lenses by any trader or investor.

The EUR/USD currency pair traded rather calmly on Tuesday, although in the second half of the day we did see a surge in market volatility. In this article, we would typically analyze the inflation report or the speech by Federal Reserve Chair Kevin Warsh;

The GBP/USD pair has gained nearly 300 pips over the past two weeks; however, will the British currency continue to rise? It is worth noting that we consider the latest surge in the pair entirely justified "for past achievements." In other words, the U.S. dollar is extracting maximum value from every event in 2026, and its rise is not always fully warranted.