The GBP/USD pair closed slightly lower at 1.2425, ending within the day’s trading range of 1.2465 to 1.2410. There's a continued bearish outlook as the pair reaches a five-month low, demonstrating that technical factors dominated over the positive UK payroll and wage data from the session.

Price movement shows a definitive break below the crucial support level of 1.2464, with further support likely at the recent five-month low of 1.2402. The pair's failure to maintain levels above the 1.2475 Fibonacci retracement point suggests that bearish momentum is prevailing.

Fundamental Analysis: The pound's weakness is further highlighted by expectations surrounding upcoming UK inflation data. With the release of the Consumer Price Index (CPI) and Producer Price Index (PPI) scheduled for Wednesday, there's a heightened anticipation of potential increases in inflation, which could influence the Bank of England’s (BoE) approach to monetary policy.

Overall Market Sentiment: The general market sentiment for GBP/USD is cautiously bearish, incorporating the forthcoming inflation figures and the pair’s current technical stance.