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28 Jul 2015
GBP/USD turns positive on UK GDP
FXStreet (Edinburgh) - The sterling has gathered some steam after the UK GDP release, with GBP/USD attempting a rebound towards the 1.5580 area.
GBP/USD little changed on data
The pair is now posting decent gains after UK GDP figures have matched previous estimates for the second quarter. In fact, the British economy has expanded at an annual pace of 2.6% and 0.7% inter-quarter, vs. previous prints at 2.9% and 0.4%, respectively.
Further data saw the Index of Services coming in at 0.4% on the three months ended in May.
GBP/USD key levels
The pair is now advancing 0.10% at 1.5577 facing the next resistance at 1.5582 (high Jul.28) followed by 1.5648 (high Jul.22) and then 1.5670 (high Jul.23). On the other hand, a break below 1.5528 (low Jul.28) would open the door to 1.5490 (low Jul.27) and finally 1.5467 (low Jul.24).
GBP/USD little changed on data
The pair is now posting decent gains after UK GDP figures have matched previous estimates for the second quarter. In fact, the British economy has expanded at an annual pace of 2.6% and 0.7% inter-quarter, vs. previous prints at 2.9% and 0.4%, respectively.
Further data saw the Index of Services coming in at 0.4% on the three months ended in May.
GBP/USD key levels
The pair is now advancing 0.10% at 1.5577 facing the next resistance at 1.5582 (high Jul.28) followed by 1.5648 (high Jul.22) and then 1.5670 (high Jul.23). On the other hand, a break below 1.5528 (low Jul.28) would open the door to 1.5490 (low Jul.27) and finally 1.5467 (low Jul.24).