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GBP/USD catches a much-needed break, grasping at 1.22
The GBP/USD managed to eke out a minor recovery on Friday, owing more to a step back in the broad-market US Dollar Index (DXY) than any intrinsic strength to be found in the Pound Sterling (GBP). Market analysts broadly expect the GBP to continue to weaken moving forward, and a continued backslide to the 1.2000 major handle is all but a foregone conclusion for many institutions. The upcoming Friday trading session will kick things off for the GBP/USD with UK Gross Domestic Product figures due at 06:00 GMT. The UK GDP for the second quarter is forecast to hold steady at 0.2%, and a miss for headline economic growth in ... (full story)