GBP/USD made a modest comeback

On Thursday, the GBP/USD made a modest comeback, recovering to the 1.2200 mark. Analysts expect the GBP to depreciate longer term, with many institutions anticipating a reversal to the main handle of 1.2000.

The UK GDP results, which are scheduled to be released on Friday, are anticipated to remain constant at 0.2% for the second quarter. Due to a shortfall for headline GDP growth in the British economy, the Pound might lose some of the gains it made on Thursday.

In addition, it is anticipated that the Personal Consumption Expenditure (PCE) Price Index would remain stable in August at 0.2%, with the annualized figure falling from 4.2% to 3.9%. Initial Jobless Claims were 204K, while annualized GDP was 2.1% in the US.