GBP/USD recovers modest intraday losses post-US PCE Price Index, flat-lines below 1.2300

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• GBP/USD attracts some dip-buying and remains closer to over a two-month high set on Friday.
• The USD pares intraday gains in reaction to softer inflation data and lends support to the pair.
• The fundamental backdrop favours bulls and supports prospects for a further appreciating move.

The GBP/USD pair reverses a dip to the 1.2355-1.2350 region and trades in the neutral territory during the early North American session on Friday. The pair, however, remains below over a two-month high touched this Friday and is currently placed around the 1.2380-1.2385 zone, nearly unchanged for the day.