Ella 
GBP/USD extended its corrective decline since hitting a one-year high near the 1.3045 area earlier this week and fell for a second day in a row on Friday. Spot sterling prices fell to a fresh one-week low of 1.2935-1.2930 in Asia as there was some follow-through buying in the US dollar, but there was a lack of bearish conviction.
Concerns surrounding a renewed U.S.-China trade war and ongoing geopolitical conflicts have dented investor appetite for risk assets. That sent U.S. stocks lower overnight and stocks across Asia fell across the board, helping the safe-haven dollar extend its rebound from nearly four-month lows and bearish on GBP/USD. However, dovish expectations from the Federal Reserve may prevent dollar bulls from building large positions and bring some support to GBP/USD.
GBP/USD closed back below the key 1.30 level as dollar short pressure eased. The U.S. dollar index paused after rising sharply at the beginning of the week as market sentiment surged as expectations for a rate cut by the Federal Reserve increased.
Data released in the UK on Thursday were largely in line with expectations, with the number of jobless claims slightly better than expected but still below expectations. Meanwhile, U.S. jobless claims rose and markets eager for a rate cut got further signs of an economic slowdown that would help force the Federal Reserve to cut interest rates starting in September.
