GBP/USD struggles despite UK´s economy dodging a recession, post-Powell’s hawkish tone

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• GBP/USD continues its downward trend, dropping 0.16% despite the UK GDP narrowly avoiding a contraction in Q3.
• The Bank of England’s cautious stance mirrors the Fed’s, as both central banks adopt a meeting-by-meeting approach to monetary policy.
• Upcoming economic releases from the UK and US, including jobs, inflation, and retail data, are set to influence the pair’s trajectory next week.

GBP/USD failed to gain traction on Friday, extended its losses to five consecutive days, is down 0.16% or 20 pips from its opening price after hitting a daily high of 1.2237. At the time of writing, the pair exchanges hands at 1.2205.