The pound sterling strengthened slightly against the US dollar after recent economic data presented a mixed picture. Expectations regarding the Bank of England's interest rate have once again come to the fore. Investors' attention has shifted to the state of the economy after markets were influenced by geopolitics earlier in the week.

Earlier this week, data showed a weakening UK labor market, which could potentially ease the Bank of England's concerns about sustained inflationary pressures.

Morgan Stanley expects the Bank of England to make its next interest rate cut in March. The area around 1.3350 may still be relevant as a potential support zone for the GBP/USD pair.