The GBP/USD pair maintains its growth momentum, with the British pound sterling appearing resilient against the US dollar. The current exchange rate stands at 1.2697.

In the latest update on the UK's Q3 GDP released last Friday, the economy expanded by 0.3% y/y, a result twice as weak as anticipated. On a quarterly basis, the GDP declined by 0.1%, deviating from the expected zero value and the 0.2% economic growth observed in the previous quarter.

Viewed from a global perspective, the data reflects a negative trend. The economic slowdown in the UK is attributed to subdued consumer spending influenced by aggressive inflation and the enduring consequences of Brexit.

Despite these challenges, there is a glimmer of optimism in the retail sector, as UK retail sales saw a 1.3% m/m increase in November.

Open Trading Account