The Pound Sterling (GBP) surged against major currencies on Monday, buoyed by the UK's Q3 Gross Domestic Product (GDP) figures, which held steady at a modest growth rate of 0.1%. This positive data prompted increased demand for GBP, enhancing its exchange rate against the US Dollar (USD) and Euro (EUR). Traders responded favorably, resulting in significant upward movement in GBP/USD and GBP/EUR pairs.
As market participants digested the GDP report, the pound's strength was evident in its performance. The GBP/USD pair climbed to test resistance levels around 1.2500, while GBP/EUR saw gains that pushed the exchange rate above 1.1600. With the UK economy showing resilience, analysts anticipate further trading momentum for the pound, potentially setting the stage for a more robust recovery in the coming months.
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Data Source: FX Killer Analysis Team Updated: 2025-12-22 10:22
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.