GBP/USD Price Analysis: Grinds higher between 50 and 100 DMAs

GBP/USD seesaws around 1.3480 during the initial Asian session on Tuesday. The cable pair dropped the most in two weeks while stepping back from early November highs the previous day. Even so, the quote remains between the 50-DMA and 100-DMA, suggesting further sideways momentum.

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UK inflation could exceed 7 percent this year to reach levels last seen in the 1990s

An annual survey of economists by The Times suggests further upside for the GBP/USD pair as inflation fears were cited by the Bank of England (BOE) policymakers while announcing the latest rate hike. That said, the pair consolidates recent losses around 1.3475 by the press time.

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