GBP/USD (current price: 1.3185)
Cable also benefited from the negative surprise by the FED, as the Great British Pound was already lifted by the slightly better than expected British GDP release. The number came in at 0.6%. beating expectations by 0.1%, although the quarterly print only included one month of data since the all-important Brexit vote that changed the narrative regarding the British economy as well as the sentiment of businesses and consumers in the country.
Our assessment: The pair is still in a broad trading range that developed after the June referendum, with strong resistance at 1.3550 and key support at 1.30 limiting the movement in the volatile market.
