GBP/USD remains depressed near 1.3800 ahead of UK/USD data

• GBP/USD trade cautiosly on Friday in the Asian trading hours.
• The US dollar falls below 93.50 following dismal US GDP figures.
•  UK budget, Brexit, and hawkish BOE supports the pound.

GBP/USD remains firm on the last trading day of the week, in the Asian session. The pair managed to gather momentum, following the previous two sessions. At the time of writing, GBP/USD is trading at 1.3800,up 0.01% for the day.

The sterling keeps its foot firmly against the majors amidst the USD broad-based selling.The greenback gauge dropped the most since October 13 the previous day after the US Q3 Gross Domestic Product (GDP) fell below the 2.7% forecast to 2.0%, much lower than  the previous reading of 6.7%. Investors assessed the downbeat GDP data as a hint that could push the Fed to slow down on its monetary policy normalization hustle.

The Brexit-led pessimism limits gains in sterling. As per the BBC, France has seized a British trawler and another has been fined amid an escalating row over post-Brexit fishing rights.

In addition to that, UK Chancellor Rishi sunak’s multi-billion pound 2021 budget and hawkish Bank of England (BOE) seems to support the move in the currency.
 
 As for now, traders keep their focus on the BOE Consumer Credit, Mortgage Lending, US Personal Consumption Expenditures-Price Index to gauge market sentiment.

GBP/USD additional levels