GBP/USD continues its upward trend, trading around 1.3430 during the Asian hours on Thursday. This marks the fourth consecutive day of gains for the pair, primarily driven by the ongoing weakness in the US Dollar. Factors contributing to this drop include Moody’s recent downgrade of the US credit rating from Aaa to Aa1. Previously, both Fitch Ratings and Standard & Poor’s had made similar reductions, highlighting growing fiscal concerns.

Traders are keenly observing UK PMI data, which may provide further catalysts for GBP/USD. The current momentum suggests that with the combination of market sentiment and economic indicators, GBP/USD could maintain its strength in the near term.