FXstreet.com (Barcelona) - The Sterling has reacted down across the board after the preliminary UK GDP figures showing an unexpected contraction on the third quarter. GBP/JPY has collapsed from 6-week high at 153.20 to lost more than 200 pips, break MA55 hourly at 151.00 and reach 150.90 as fresh intra-day low.

Currently the pair is trading around 150.95/151.05, 0.50% below today's opening price action at 151.70.

British economy contracted at a 0.4% pace in the third quarter and at a 5.2% pace year on year, according to preliminary estimates, to disappoint markets which expected a 0.1% quarterly advance and a 4.7% year on year decline.

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