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GBP/USD consolidated mid 1.63 handle

FXstreet.com (London) – GBP/USD has kept the ground made on a decisive break above the 1.63 level and trades happily between 1.6330/50 while holiday markets are slow.

A research team at Investec explained it was reported that household spending was the main contributor to growth and this was the catalyst for the pound to finally break out of the range in GBPUSD and head through 1.6300 for the first time since January this year. “The moment it took out the key technical level of 1.6260 it appears market participants couldn’t resist pushing GBPUSD higher as technical levels were wiped out …read more