GBP/USD - What to Keep in Mind

GBP/USD could be on track to extend its recent rebound as GDP data on Thursday confirmed a US recession. This added to speculation that the Fed will have to slow the pace of their tightening cycle, while record-high inflation in UK may force the BOE to act with more aggression.

The pair currently looks on track to lock-in a second consecutive week of gains for the first time since May, and could continue to move higher over near-term with the BOE’s interest rate decision due next week.

Read our latest article for a deeper analysis into what is driving direction in GBP/USD: