Search ForexCrunch

No surprises in the UK GDP release: quarterly growth remains 0.5%, and yearly growth is 2.3%. Among the internal  components, we find a rise of 0.9% in business investment while services stand at 0.8%×¥  Exports are up 0.7% and imports down 1.5%. All in all,  the changes in the components offset each other.

GBP/USD  remains unchanged around 1.2450, after edging up just a bit ahead of the publication.

The second release of the UK GDP for Q3 2016 was expected to confirm  the growth rate of 0.5% q/q and 2.3% y/y. The first release came out stronger than  projected.  Q3

GBP/USD was trading at around 1.2440 ahead of the publication. Trading is a bit slow  as US markets are mostly on holiday.

Resistance awaits at 1.2510 and support is at 1.2380.

More: GBP/USD – between  Hard Brexit and a Dark Donald