GBP/USD Trading Higher, BBA Approvals Slip

GBP/USD is trading at 1.3222, up 0.0025. The pair is trading near the highs of the session. Trading is modestly choppy. The British Bankers' Association (BBA) reported that mortgage approvals declined to 37,662 in July versus 39,763 in June. The U.K. Office for National Statistics (ONS) is scheduled to release GDP data (gross domestic product) Friday at 4:30 a.m. ET.