GBP/USD struggles to defend 1.3400 on Brexit fears, sluggish markets

GBP/USD looks hesitant while defending Friday’s rebound from yearly low, around 1.3415 during Monday’s Asian session. That said, the cable pair dropped for three consecutive weeks in the last despite the previous day’s corrective pullback from the lowest level since December 2020.

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GBP/USD Weekly Forecast: Recovery time? UK inflation and jobs data could counter dollar surge

Highest since 1990 – US inflation has hit 6.2%, reaching not only a historic peak but also sending the dollar substantially higher. The mix of Brexit acrimony and disappointing UK growth figures contributed to a downfall for GBP/USD. What’s next? Critical data for the subsequent rate decisions stand out in the upcoming week.

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This article was originally published by Fxstreet.com.Read the original article here.

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