Forex: Top FX Headlines: False Breakouts in GBP/JPY, GBP/USD? USD Steadies Ahead of GDP: 10/28/16

– We discussed how GBP/JPY and GBP/USD were at critical levels yesterday; today, they appear to be failing in their breakout attempts.
– Q3’16 US GDP is likely to be above +2% annualized (‘Goldilocks’-ish), but it’s a stark deceleration from the near +4% expectation in early-August, per the Atlanta Fed GDPNow model.