GBP/USD snaps the three-day winning streak near 1.2502 inFriday’searly Asian session. The US economy grewat a slower pace of1.6% in Q1 2024, compared to 3.4% in the previous reading. The expectation that the BoE will cutrates before the US Fed might exert some selling pressure on the GBP. The GBP/USD pair trades on a weaker notearound1.2502duringthe early Asian trading hours on Friday. The modest rebound of the US Dollar weighs on themajorpair despite weaker US GDP growth numbers.
Investors will take more cues from another inflation report on Friday. The US PCEis expectedtoshow an increase of0.3% MoM in both headline and core PCE figures. On an annual basis, the headline PCE and Core PCE figuresare estimatedto show a rise of 2.6% and 2.7% YoY, respectively.