The UK GDP monthly release showed 0.1% contraction in August versus 0.0% expected and +0.4% previous.

Meanwhile, Index of services (August) arrived at +0.4% 3m/3m vs. +0.1% expected and +0.3% last.

The Gross Domestic Product released by the National Statistics is a measure of the total value of all goods and services produced by the UK. The GDP is considered as a broad measure of the UK economic activity. Generally speaking, a rising trend has a positive effect on the GBP, while a falling trend is seen as negative (or bearish).

Source : FXstreet