GBP/USD: The pair is trading with clear dovish bias and price has declined all the way to lower half of 1.25 handle as UK’s GDP update gave British Pound a major blow. The pair tested an intra-day low of the 1.2520 handle and has since remained rangebound in the lower half of 1.25 handle as firm USD, and cues from UK macro data keep GBP bulls under significant pressure. Traders now await US data for short term profit opportunities, but pair is all set to close for the week well below the 1.26 handle. 

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