GBP/USD extends the Asian consolidative mode into the European session  on Thursday, having witnessed a sharp rise to 1.3220 levels in the US  last session. EUR/USD is posting modest gains in the 1.1840 region. US  Initial Claims, flash Q2 GDP figures next of note in the docket. The  dollar edged lower in early European trade Thursday, with investors  looking to Federal Reserve Chairman Jerome Powell for guidance as to how  the central bank might alter its policy framework to help the U.S.  recovery. The dollar index was down 0.1% at 92.942.