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GBP/USD waits on UK data deluge at 6am GMT

In less than one hour from now the UK will release a whole batch of economic data. The main focus of that is probably the latest monthly GDP data. That is expected to show another gain for the April reading, of around 0.7%, following a 0.6% monthly gain in March. Other releases due out at the same time cover the latest Industrial and Manufacturing data, index of services, trade balances and construction output. Ahead of all this lot the GBP/USD is above the lows seen yesterday, when the Pound fell back to a low at 1.2706 just ahead of the 4pm London fix. The GBP/USD later closed in the US at 1.2740. The range seen so far today has been covered by 1.2733 to 1.2745. The Pound is currently trading at 1.2740

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