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GBP/USD Price Analysis and Forecast: Weak UK PMI Data Adds Pressure on the Pound
GBP/USD continues to post moderate intraday
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GBP/USD continues to post moderate intraday losses, reaching a fresh daily low near 1.3210. Moreover, the current fundamental backdrop appears to favor the bears, suggesting that the path of least resistance for spot prices remains to the downside.The British pound is facing a new wave of negative factors amid the deepening political crisis in the UK following Prime Minister Keir Starmer's resignation under pressure from within the Labour Party. Additional pressure on the pound comes from disappointing preliminary UK PMI
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Irina Yanina,
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