FXstreet.com (Barcelona) - The Pound has broken the 1.4200 resistance few minutes after the release of the better than expected CPI data where annual inflation was posted at 3.0% in January, an slightly decrease from 3.1% in December.

GBP/USD has risen more than 70 pips from 1.4150 to the 1.4225 level. If the Pound is back and the movement is confirmed, next target could be 1.4260 and 1.4290.