GBP/USD faces rejection near 1.2400 - Double Top ?

GBP/USD has lost its bullish vigor after Wednesday's recovery toward 1.2400. Prior to the Bank of England's (BOE) policy announcements, investors refrain from placing bets on future Pound Sterling strength, and the near-term technical outlook indicates a lack of buyer demand.
The gains in GBP/USD remain modest, especially when compared to EUR/USD, notwithstanding the intense selling pressure surrounding the US Dollar late on Wednesday.
The decision to hike the policy rate by 25 basis points was made, and FOMC Chairman Jerome Powell maintained that more rate rises will be appropriate. However, his admission of the disinflation in goods led to a decline in the US dollar. Powell also acknowledged that a quicker-than-anticipated decrease in inflation will be reflected in upcoming policy choices, which raises the prospect of a policy change later in the year.
The BOE is anticipated to increase its policy rate by 50 basis points to 4% from 3.5% on Thursday. Tenreyro and Dhingra, two BOE Monetary Policy Committee (MPC) members, voted in December to maintain rates at 3%.

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