• GBP/USD consolidates in Asia after closing slightly lower Thursday

• Failure to rally on positive news disappoints bulls

• Moderating U.S. inflation, lower Sep Fed hike odds fail to lift GBP

• UK GDP +0.3% in June from May versus forecasts of zero growth, shrugged off

• Gulf ceasefire, World Cup, and hot weather boost consumers spending

• June employment, July inflation due next week, key for BoE rate expectations

• July Retail sales, August consumer confidence, and flash PMIs are also due

• Resistance 1.3530-40, 1.3556 July high; support 1.347580, 1.3450, 1.3400-10

• Thursday range 1.3475-1.3513, Asia 1.3489-1.3498
GBP:

(Krishna Kumar is a Reuters market analyst. The views expressed are his own.)