GBP/USD falls to a fresh 4-week low of 1.2059 on strong US GDP data.

 

The GBP/USD currency pair is trading at 1.2060 after hitting a day high of 1.2265. The Pound Sterling does not oppose positive economic indicators in the US. The US economy is still strong despite the US Federal Reserve’s tightening cycle, as seen by the US employment figures and services activity.
The UK GDP and US Fed speakers are on the traders’ radar for the next week. Following a surprise, positive employment data from the United States (US), which fueled rumour that the Federal Reserve (Fed) would hike rates over Wednesday’s 25 basis points level, GBP/USD plunged and extended its losses above the 50 and 200-day Exponential Moving Average (EMA) (bps).
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