GBP/USD Hits Two-Day High as UK Economy Steers Clear of Recession

The GBP/USD currency pair is trading at $1.3551, showing a modest gain for the session.

This comes as UK GDP grew 0.4% in the second quarter, matching forecasts and indicating a stable economic environment for Pound Sterling.

Softer-than-expected US inflation figures have also reduced immediate expectations for further Federal Reserve tightening, shaping global currency flows.

The GBP/USD price has displayed strong bullish momentum on multiple indicators and is likely to consolidate between $1.3483 and $1.3619 over the next few days.