GBP/USD: UK doing better than expected - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that the British Pound was among the most benefited following FED's announcement, as the GBP/USD pair recovered above the 1.3200 level, reaching a fresh weekly high of 1.3229.

Key Quotes:

"The Sterling remained muted early Europe after the release of a better-than-expected Q2 GDP, showing that the economy grew by 0.6% in the three months to June, against previous 0.4%. Yearly basis, the reading was also upbeat, up to 2.2% against previous 2.0%."

"Still, data reflected a pre-referendum scenario, and it won't be until the release of the Q3 GDP that the market will have a clearer picture of the UK economic growth."

"Now trading near the mentioned high, the short term technical picture is bullish, as in the 1 hour chart, the technical indicators head sharply higher near overbought levels, whilst the 20 SMA is turning modestly higher far below the current level, as a reaction to the over 100 pips advance."