The British pound has moved sharply higher against the U.S dollar, hitting 1.3255, after United Kingdom third quarter GDP came in better than expected, rising 0.4 percent. The GBPUSD pair currently trades around the session high’s, as investors await the release of Core Durable Goods Orders data from the United States economy.
The British pound remains intraday bullish against the U.S dollar while trading above the 1.3228 level. Further advancement can be expected towards the 1.3268 and 1.3307 levels, while price-action holds above the key 1.3228 level.
If price-action falls below the 1.3228 level for a sustained period, a further decline should be expected towards the 1.3201 level. Extended intraday GBPUSD support is located at 1.3157.
