Today, the GBP/USD experienced selling pressure and dropped to a level of 1.2460 after mixed data on UK Industrial Production and GDP was released. GBPUSD is moving sideways so it is likely that after exiting the box it will decrease in price
The currency pair decreased by 0.01% during the day and is currently trading at 1.2469 as of writing this article. We now need to await the release of UK Gross Domestic Product (GDP) data for July and US Consumer Price Index (CPI) data to gain more clarity on the fluctuations in this currency pair.