The GBP/USD pair continues to consolidate in the 1.2600-1.2700 range that we mentioned a few days ago. The second half of the week may add volatility to the market. The instrument will be influenced by the publication of the UK Consumer Price Index on Wednesday, as well as the US economic data expected on Thursday and Friday. On the downside, levels closer to 1.2500 will act as support; on the upside, resistance will be found in the range of 1.2850-1.3000.