GBP/USD: The pair saw a sharp decline with price action as GBP came under huge pressure over disappointing construction PMI data. The pound is already suffering from Brexit and Covid-19 pandemic woes. Worse than expected gave a major blow to Pound bulls while USD gained on broad market caution. Price action has stabilised around mid-1.23 handle for now over disappointing US macro data that capped decline. Traders now await headlines from the USA for short term trading cues. 

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