Cable remains sub-1.2550 following unexpectedly negative UK March GDP print

1.2550 is a former support level (May 4 low, after ECB hiked by 25 bps)

GBP/USD slid through 1.2550 on Thursday, en route to 1.2497 (one-week low)

Drop to 1.2497 was spurred by demand for the safe-haven dollar nL4N3792M8

Biden/McCarthy debt ceiling meeting postponed to next week nL1N3783AM

Yellen: still some uncertainty about when U.S. Treasury will run out of cash