GBP/USD slides to over three-week low, further below 1.2100 mark on stronger USD

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• GBP/USD drifts lower for the third successive day and drops to a multi-week low on Thursday.
• A combination of factors continues to push the USD higher and exert pressure on the major.
• The fundamental backdrop supports prospects for a further near-term depreciating move.

The GBP/USD pair extends this week’s retracement slide from the vicinity of the 1.2300 mark and remains under some selling pressure for the third successive day on Thursday. The pair weakens further below the 1.2100 round figure, hitting over a three-week low during the Asian session, and is pressured by sustained US Dollar (USD) buying interest.