GBP/USD attempting to lift within a thin holiday market

A two-day trend break left the pound vulnerable to a deeper fall

However, loss consolidation more likely than a sharp decline

Infl. and growth concerns, BoE rate stance and political uncertainty in play

BoE rate hikes no longer viewed as GBP positive: more a brake on growth

Hawkish Fed, broad dollar gains and growth uncertainty to slow any GBP gains

Technically, two 50% Fibos hold the keys: 1.2411 and 1.2723

The retracements taken off 1.2156-1.2666 and 1.3290-1.2156 respectively

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