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GBP found support above 1.2580 but was unable to extend gains above 1.2670.
Weak UK data and hawkish comments from a Fed spokesman weighed on the pound.
The dollar failed to rise on better-than-expected U.S. gross domestic product and U.S. jobless claims data last week.
GBP found support around 1.2580 early this morning before bouncing back on the back of a weak US dollar during Thursday’s US session. However, GBP/USD still finds resistance below 1.2665, which keeps the overall bearish trend in GBP/USD intact.
GBP/USD fluctuated within the 100-point horizontal channel, consolidating its decline after falling from the annual high near 1.2900 in early March.
