Intra-day Market Moving News and Views
28 Aug 2015 09:28GMT
GBP/USD - ....... Although cable had staged a brief recovery from 1.5398 to 1.5429 in European morning after data showed that the U.K. grew in line with expectations in the second quarter, selling interest below Asian high of 1.5442 capped such gain there n the British pound then fell marginally below Thursday's low at 1.5370 to 1.5364 before short-covering emerged n lifted price to 1.5406.
The Office for National Statistics said the U.K. GDP rose 0.7% in the second quarter, in line with expectations and unchanged fm a preliminary estimate. On a yearly basis, the U.K. economy grew at a rate of 2.6% in the last quarter, also in line with market expectations.
At the moment, offers are seen reported at 1.5420-30 and more above with stops building up just above 1.5450, whilst bids are noted at 1.5370-60 with mixture of bids and stops in 1.5340-20 region.
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