GBP/USD on the defensive in Asia after closing 0.45% lower on Thursday

Weighed down by rising odds of a BOE rate cut; Aug cut probability at 50%

BOE to trim Bank Rate on Aug 1 and once more this year, economists say

Focus turns to Fri's U.S. core PCE price index data, Fed rate decision Wed

GBP/JPY recovers Thursday after plunging 6.2% from July 11 high

Falls below under 100-DMA at 197.08 to a low of 195.80 but closes above MA

GBP Support 1.2829, 50% of 1.2613-1.3044 rise; loss opens 1.2778, 61.8% Fibo

Resistance 1.2900-10, 1.2940-50; Thu range 1.29125-1.28485

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