• Markets pricing implies 90% chance of rate hike in Nov after this positive GDP data but wage growth is major factor which can prevent BOE to hike rates. Wage growth is currently less than . UK full time workers adjusted weekly decrease by 0.4%.
• The near term major resistance is around 1.3230 and any break above will take the pair to next level till 1.330/1.33374 (Oct 13th 2017 high).
• On the lower side, 1.3170 (55- day ) will be acting as major support and any break below will drag the pair down till 1.3100/1.30750 /1.3270 level. continuation can be seen only below 1.3030.
It is good to buy on dips around 1.3205-1.3210 with SL around 1.3170 for the TP of 1.3300/1.33380.