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Pound boosted by better than expected GDP data

UK monthly GDP jumps to 0.3% from -0.3%. While manufacturing production remained below expectations with 0.3% and industrial production with 0.1%. The pound gained some upside momentum after the better than expected data. But the pair was not able to break overnight high 1.2945, currently trading above 1.2935. Later Today we have European Central Bank

Study_in_UK_GfET

UK monthly GDP jumps to 0.3% from -0.3%. While manufacturing production remained below expectations with 0.3% and industrial production with 0.1%. The pound gained some upside momentum after the better than expected data. But the pair was not able to break overnight high 1.2945, currently trading above 1.2935.

Later Today we have European Central Bank President Christine Lagarde and Fed Chair Powell due to speak this will give a further direction to pound and other USD pairs as well. On the upper side, the immediate resistance will be 1.2960 then 1.30 the psychological level.

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