Cable moves higher through the early European session on Wednesday. The GBPUSD pair recouped traction after yesterday’s two-way price swings.The pair lost some extra ground after the EU’s chief negotiator for Brexit, Michel Barnier, emphasized that Brexit withdrawal agreement won’t be revived.
The GBP got an extra boost following the series of UK data (monthly GDP print and manufacturing/industrial production data). Traders, in any case, stayed careful and abstained from putting down any aggressive bets in front of the EU summit. So, Brexit stays key driver.