The GBPUSD has been sidelined for most of the week waiting for the release of the GDP figures. The report is due at 4:30 GMT. A print below expectations at -.2% could spark expectations of more government easing in the future and push the pair lower. A positive print could ease pressure on the pair and cause a short squeeze higher. As of the close of trading Tuesday the pair is pivoting at the 1.55 level. A break of this level could expose 1.5460 followed by 1.54. A hold of the .155 level and the cross could rally towards the 1.5580.
Pivot 1.55
Sup 1.5460 1.54
Res 1.5580
Keane Insight's: Waiting for GDP. Should consolidate until then.
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