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GBP/USD trades in a narrow 12 pip range between 1.5358/46 through the Asian session.
- Markets focus now on UK prelim GDP estimate for the third quarter, which is expected to show a marginal slowdown in growth
- Expectations are for 0.5-0.6% growth in Q3 q/q after 0.7% in Q2, while on yearly basis GDP growth is expected to show a 2.4% expansion
- US September durable goods orders along with the Conference Board consumer confidence index for October due later in NY session also to impact the pair
- Cable is currently trading at 1.5350, with strong support seen by 200-DMA at 1.5331, while immediate resistance is located at 1.5383 (55 EMA)
- Breaks below 1.5330 could see the pair at 1.5300 and further below at 1.5245 levels
