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GBP/USD sees moderate strength in Asia

FXStreet (Mumbai) - The GBP/USD pair ticked up in Asia, raising prospects of a technical correction in the pair after suffering losses for the nine consecutive sessions.

Focus on UK GDP

The ONS will publish the Q2 National Accounts today, which will include substantial revisions to GDP from 1997 to the second quarter of this year. The final UK Q2 GDP is likely to keep the growth rate unchanged at 2.6% year-on-year and 0.7% quarter-on-quarter.

At the moment, the cable is trading moderately higher around 1.5160 levels. The spot dropped to a low of 1.5129 on Tuesday. BOE’s carney refrained from commenting on the monetary policy and talked about the climate change.

GBP/USD Technical Levels

The immediate resistance is located at 1.52, above which the gains could be extended to 1.5248 (50% of Apr-Jun rally). On the other side, support is seen at 1.5129 (Tuesday’s low) and 1.51 levels.

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