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Flash: GBP kep data for today - TD Securities

FXstreet.com (London) - Following Sterlings 153 pip loss on yesterdays activity, Alvin Pontoh, FX & Rates Strategy at TD Securities tells us that key data today is the second reading of Q1 GDP.

He said that so far, the market haven’t seen anything that would point to any revisions from the +0.3% initial estimate. He added that he will also be keeping an eye on the index of services for March, after the ONS had pencilled in a pretty large gain for Feb, and he’d like to see how much of that momentum carried through to March and what kind of a hand-off we’re looking at for Q2

GBP/USD continuation of breakout

GBPUSD has extended its break out below the 38.2% support line from the recent ascending channel formed in May.
The fundamentals are stacking up again against the pound.
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