GBP/USD muted on UK GDP, around 1.2450

The Sterling kept the composure in the wake of UK data today, with GBP/USD holding the range near 1.2450.

GBP/USD indifferent to steady GDP

The pair remained apathetic after advanced UK GDP figures showed the economy is seen expanding at an annualized 2.3% during the third quarter and 0.3% QoQ, broadly in line with market expectations.

Further results saw advanced Total Business Investment expected to contract at an annual pace of 1.6% during the same period while the Index of Services rose 0.8%, matching forecasts and previous reading.

The pair, in the meantime, remains within the prevailing consolidative theme near 1.2450 amidst a generalized USD weakness.

GBP/USD levels to consider

As of writing the pair is gaining 0.10% at 1.2460 facing the next hurdle at 1.2514 (high Nov.21) followed by 1.2570 (55-day sma) and then 1.2675 (high Nov.11). On the other hand, a breakdown of 1.2308 (low Nov.21) would open the door to 1.2297 (low Nov.18) and finally 1.2081 (low Oct.25).

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