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GBP/USD slips after GBP rally stalls below 1.3550

GBP/USD fell to just below 1.3500 after a July rebound ran about 400 pips above the yearly low near 1.3150.

Reported · Written up by our desk · Major Pairs

Sterling weakened on the day as GBP/USD faded around 0.5% to just below 1.3500, after the prior week’s advance stalled short of 1.3550 for a second straight session, according to FXStreet.

The pullback trimmed a July run that lifted the pound roughly 400 pips off its yearly low printed just below 1.3150, FXStreet said, with technical indicators signaling that extended rallies can lose momentum.

Thursday’s London data offered limited support, with GDP at 0.1% month over month in May, industrial production down 0.5%, and only a modest manufacturing beat, the outlet noted.

FXStreet also pointed to dovish-leaning remarks from a Bank of England deputy governor, contrasted with the BoE’s June stance of holding Bank Rate at 3.75% while two members voted for a hike, alongside CPI inflation at 2.8%.

Latest closeGBP/USD 1.348 ▼0.5%

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