Slowing economic growth in the UK and bets that the Bank of England will not be as aggressive as the Fed during its tightening cycle are likely to weigh on GBP/USD in the near term.
Cable is finding little support after posting a fresh near 18-month low earlier this week with a closely watched measure of US inflation due to be released later in the session.
The British Pound remains vulnerable as retail traders build up Sterling long bets. This may spell trouble for GBP/USD and GBP/JPY. What are key levels to watch?