Sterling Rallies on Upbeat Market Sentiment While UK Growth Slows
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Pound Sterling is gaining amid upbeat market mood, technical breakout above 1.2400.
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UK Q3 GDP expected to show slight contraction due to higher interest rates.
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Escalating Middle East tensions could negatively impact market risk appetite.
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US Dollar weakness boosting GBP/USD as markets price in Fed pausing rate hikes.
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Services PMI decline highlights impact of rate hikes on US economy.