The GBP/USD pair extends this week's retracement slide from the vicinity of the 1.2300 mark and remains under some selling pressure for the third succ
GBP/USD drifts lower for the third successive day and drops to a multi-week low on Thursday. A combination of factors continues to push the USD higher and exert pressure on the major. The fundamental backdrop supports prospects for a further near-term depreciating move. essive day on Thursday. The pair weakens further below the 1.2100 round figure, hitting over a three-week low during the Asian session, and is pressured by sustained US Dollar buying interest.
This contributes to the offered tone surrounding the GBP/USD pair and supports prospects for a further near-term depreciating move. In the absence of any relevant market-moving economic releases from the UK, traders now look to the US macro data for some meaningful impetus. Thursday's US economic docket highlights the release of the first estimate of the US GDP print for Q3, along with Durable Goods Orders, due later during the early North American session.
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