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Add as a preferred source on Google
• GBP/USD edged higher on Thursday after data showed UK economy grows by stronger-than-expected in Q2.
• UK GDP (Q2 2025): Expanded 0.3% after 0.7% growth in Q1, beating expectations and boosting Finance Minister Rachel Reeves.
• UK GDP (Jun): rose 0.4% after May’s 0.1% drop, driven by strong gains in services, industrial output, and construction..
• The UK is set to release new inflation figures on August 20, following June’s 3.6% CPI — the highest since Jan 2024.
• Immediate resistance is located at 1.3600(38.2%fib), any close above will push the pair towards 1.3596(Higher BB)
• Strong support is seen at 1.3486 (Aug 13th low) and break below could take the pair towards 1.3435(50%fib).
Recommendation: Good to buy around 1.3570 with stop loss of 1.3500 and target price of 1.3630
