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GBP/USD consolidates above 1.6200

FXstreet.com (Edinburgh) – The sterling remains buoyant on Wednesday, taking the GBP/USD to consolidate the recent ascent trough 1.6200 the figure ahead of UK data.

GBP/USD firmer ahead of data

Very interesting calendar today for the pound, as the preliminary GDP figures and the CBI Survey results are due later. Prior surveys expect the British economy to have expanded 0.8% inter-quarter in Q3 and 1.5% on a yearly basis, and the Distributive Trades Survey by CBI to have improved to 8 MoM in November from October’s 2. Paul Robson, Senior FX Strategist at RBS,, suggested, “The Short-term charts are showing signs …read more