GBP/USD Steadies After Weak UK Data

The British Pound (GBP) holds steady near 1.2660 after a mild rebound from Thursday’s low of 1.2630, despite weaker-than-expected UK data. September Industrial Production fell 0.5%, dragging Q3 GDP growth down to 0.1% (vs. 0.2% forecast).

Technical Outlook:

  • Immediate resistance lies at 1.2710/20, with stronger resistance around 1.2830.
  • Support remains at 1.2630, the recent low.

Further gains hinge on breaking 1.2710, but softer growth is likely to cap upside near the low 1.28s.

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