GBP/USD Little Higher Ahead of Data

GBP/USD is trading at 1.3118, up 0.0015. The pair is trading rangebound and a little higher as overseas forex traders wind down trading for the day. Market chatter about European headline news and money flows is making the rounds. The U.K. Office for National Statistics (ONS) is set to release second quarter GDP data (domestic product) at 4:30 a.m. ET. The Confederation of British Industry (CBI) business optimism and distributive trade surveys are due out at 6:00 a.m. ET.