• GBP/USD initially gained on Monday but gave up some ground as investors digested UK GDP data.
• Britain's economy grew more slowly than previously thought in the second quarter.Economic output expanded by 0.5% in the April-to-June period, the Office for National Statistics said on Monday.
• Separate data published on Monday showed British house prices in September rose by the most since November 2022 in annual terms, up 3.2% compared with the same month last year.
•At GMT 14:28, the pair was trading down 0.02 percent at 1.3367, retreating from daily high hit earlier at 1.3428.
• Technical signals are strongly bullish as RSI is at 64 , daily momentum studies 5, 9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.3432( 23.6%fib), any close above will push the pair towards 1.3458 ( Higher BB)
• Strong support is seen at 1.3349(38.2% fib) and break below could take the pair towards 1.3284 (50% fib).
Recommendation: Good to buy around 1.3350 with stop loss of 1.2950 and target price of 1.3430
