Sterling took a beating last week as concerns over the U.K. economy weighed heavily on the currency, leaving it vulnerable to another shaky performance in the coming days.

That said, the Event Guide for the U.K.’s December CPI Report highlights that leading indicators, like business surveys, suggest price pressures remained elevated last month.

If U.K. inflation data comes in hotter than expected, it could lead traders to scale back expectations for BOE rate cuts, potentially driving demand for GBP.

Here’s why GBP/CHF and GBP/NZD are on my radar if that scenario plays out!