Breaking: GBP/USD drops sharply towards 1.2950 as UK GDP arrives at -0.3% MoM in Nov, misses estimates

• UK GDP arrives at -0.3% MoM in Nov vs. 0.0% expected.
• GBP/USD drops further on downbeat data.

The UK GDP monthly release showed that the UK economy showed contraction in November, arriving at -0.3% versus 0% expected and 0% previous.