Forex
GBP/USD Slides Below 1.35 Amid USD Strength and Inflation Fears
The GBP/USD pair is trading below 1.3500 on Thursday amid modest US Dollar strength, following two consecutive days of negative bias.
This comes as traders await the UK's GDP data release, which could prompt directional bets in either direction.
Despite this, inflation risks and geopolitical uncertainties are supporting the USD's bounce from its post-CPI swing low, acting as a headwind for the GBP/USD pair.
From a technical perspective, spot prices have been oscillating within a one-week-old range, which some may categorize as a bullish consolidation phase.