• GBP/USD backslid yet again on Thursday, falling to a 19-week low.
• Cable is on pace for its single worst week since mid-2023.
• GBP bidders will be waiting for Friday’s UK GDP print.

GBP/USD fell to a fresh 19-week low on Thursday, piercing the 1.2700 handle before finding near-term technical support from 1.2650. The Pound continues to ease with a lack of meaningful faith behind it, while broader markets continue to bolster the Greenback higher across the board.

Producer Price Index (PPI) producer-level inflation figures came in roughly as expected, despite a slight upswing in annualized core PPI numbers.