\n Share:<\/span><\/p>\n GBP\/USD recovered lost ground on the last day of the week, month, and quarter, rising more than 0.80% after hitting a daily low of 1.2599. Upbeat data from the United Kingdom (UK) and inflation edging lower in the United States<\/a> (US) boosted the pound Sterling<\/a> (GBP), set to finish the month with gains of 2%. At the time of writing, the GBP\/USD is trading at 1.2717.<\/p>\n The latest inflation report in the US eased some pressure on the Federal Reserve (Fed) as the central bank struggles to curb sticky inflation. The Fed’s preferred gauge for inflation, the core pce<\/a>, rose less than expected, coming in at 0.3% MoM, below the prior’s month’s 0.4%, while annual-based figures decreased to 4.6% from 4.7%. Headline inflation rose by 3.8% YoY, below April’s 4.4%, while PCE climbed 0.1% month-over-month, lower than 0.4% in the previous report.<\/p>\n Across the pond, the UK economic docket featured the Gross Domestic Product (GDP) release of the first quarter, with the country missing a recession, expanded by 0.1% QoQ, as high inflation hurts households’ disposable income, as shown by the Office for National Statistics (ONS) figures. Given that inflation remains at around 8.7%, the Bank of England (BoE) is expected to raise rates to 5.5%, as shown by money market futures, though investors remain worried that higher Bank Rates would tip the UK economy into a recession.<\/p>\n Following the release of the US data, the GBP\/USD increased from around 1.2640s to 1.2690s as investors began to price in a less aggressive Fed. Consequently, US Treasury bond yields dropped, while a measure of the buck’s value, the US dollar index<\/a>has dropped more than 0.50%, exchanging hands at 102.769 on Friday.<\/p>\n\n
Stellar UK GDP data and slowing US inflation bolstered the Pound Sterling, past 1.2700 vs. the US Dollar<\/h2>\n
GBP\/USD Price Analysis: Technical outlook<\/h3>\n
![\"economic](\"https:\/\/editorial.fxstreet.com\/miscelaneous\/image-638237320797192307.png\")
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