GBP/USD Lower Ahead of Data

GBP/USD is trading at 1.2405, down 0.0107. The pair is trading rangebound just above the session lows as European traders wind down trading for the day. Market chatter about the U.S. election on Tuesday, U.K. headline news and global money flows has kept buyers and sellers active. The U.K Halifax House Price Index rose 1.4 percent in October versus a upwardly revised 0.3 percent gain in September. Year over year house prices were up 5.2 percent versus 5.8 in September. Market talk about U.K. economic data due out Tuesday is starting to make the rounds. The U.K. Office for National Statistics is scheduled to release industrial production data at 4:30 a.m. ET. The National Institute of Economic and Social Research (NIESR) is scheduled to release gross domestic product (GDP) estimates at 10:00 a.m. ET.