The GBP/USD currency pair is trading with a slight negative bias below the mid-1.2900s level, trading around the 1.2935 mark. This follows a strong upward movement experienced yesterday that saw prices peak over 1.2965.

Despite this recent dip, the downtrend does not exhibit strong bearish conviction as traders await the impending release of US consumer inflation figures. This data release could significantly influence market sentiment and placement for UK to US currency trade.

Traders are encouraged to stay informed about these developments for making timely trading decisions.