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GBP/USD in highs near 1.6300

FXstreet.com (Edinburgh) – After a brief knee-jerk to the proximity of 1.6200 the figure, the GBP/USD rapidly climbed to fresh 11-month highs beyond 1.6280 on Wednesday.

GBP/USD firmer after GDP

The pair is now trading closer to the key 1.6300 handle after the UK economy expanded in line with expectations during the third quarter, 0.8% QoQ and 1.5% on a yearly basis. Further data showed that the Index of Services grew 0.7% in the three months ended in September. Strategists at UBS remain neutral on the pair, arguing, “there is an important resistance at 1.6260, a break through which would be …read more