GBP/USD Daily Forecast – British Pound Finds Itself Under Pressure

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GBP/USD is losing ground as weak inflation data and broader U.S. dollar strength are putting pressure on the pair. The U.S. dollar is gaining ground against a broad basket of currencies as the market awaits new U.S. Initial Jobless Claims data. Analysts expect that 2.4 million Americans filed for unemployment benefits in a week. Continuing Jobless Claims are expected to be close to 25 million. Although many weeks have passed since the beginning of the coronavirus crisis, Initial Jobless Claims stay high due to prior backlog and second round of layoffs...