The prevalent USD selling bias helped regain some positive traction on Thursday. The UK economy contracted by 0.1% in August as against a flat reading expected. Manufacturing/industrial production figures also fell short of consensus estimates. The GBP/USD pair maintained its bid tone through the early European session on Thursday, albeit eased a bit from session tops in reaction to mixed UK macro data. Having shown some resilience below the 1.2200 round-figure mark for the third straight session, the pair managed to regain positive traction on Thursday and was being supported by the prevalent US Dollar selling bias. Softer UK macro data does little to influence The positive momentum, however, lacked any strong follow-through and met with some fresh supply after the UK monthly GDP report showed that the economy unexpectedly contracted by 0.1% in August. Adding to this, the UK manufacturing and industrial production contracted more-than-expected in August, though was partly offset by slightly lower-than-expected trade deficit figures for the same month. It will now be interesting to see if the pair is able to capitalize on the positive move or once again fizzles out at higher levels amid persistent uncertainties surrounding Britain’s exit from the European Union. Technical levels to watch FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Forex News Today: Daily Trading News share Read Next Bitcoin (BTC) jumped above $8,600 – what’s going on FX Street 3 years The prevalent USD selling bias helped regain some positive traction on Thursday. The UK economy contracted by 0.1% in August as against a flat reading expected. Manufacturing/industrial production figures also fell short of consensus estimates. The GBP/USD pair maintained its bid tone through the early European session on Thursday, albeit eased a bit from session tops in reaction to mixed UK macro data. Having shown some resilience below the 1.2200 round-figure mark for the third straight session, the pair managed to regain positive traction on Thursday and was being supported by the prevalent US Dollar selling bias. Softer UK… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.