• Profit-taking on dollar shorts helps deflate cable from 1.3623 to 1.3588

• 1.3623 was 40-month peak after dollar fell on U.S. PPI, jobless claims data

• That peak is 98 pips above the weak UK April GDP data-spurred Ldn am low

• GBP/USD was around 1.3588 when the UK GDP data was released at 0600 GMT

• British goods exports to U.S. suffered record fall in April on Trump tariffs

• Cable resistance levels beyond 1.3623 include 1.3643 (Feb 2022 top) and 1.37

GBPUSD

(Robert Howard is a Reuters market analyst. The views expressed are his own)