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GBP/USD wobbling around 1.5700

FXStreet (Edinburgh) - GBP/USD is clinging to the 1.5700 area on Wednesday, following the results from the UK economy during the third quarter.

GBP/USD indifferent after data

The pair is not positing any significant reaction after the UK economy expanded 0.7% inter-quarter and 3% over the last twelve months, falling within market expectations. Further data saw the Index of Services rising 0.8% in the three months ended in September while the Total Business Investment contracted 0.7% QoQ. Next of note in the UK docket will be the Distributive Trade Survey gauged by CBI, expected to ease a tad to 30 for the current month from 31.

GBP/USD relevant levels

The pair is now losing 0.09% at 1.5694 and a breakdown of 1.5649 (low Nov.25) would target 1.5630 (low Nov.24) en route to 1.5626 (low Nov.21). On the upside, the initial hurdle lines up at 1.5737 (high Nov.20) ahead of 1.5780 (high Nov.13) and then 1.5791 (low Nov.7).

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