FXStreet (Edinburgh) – The sterling keeps navigating the low-1.5700s vs. the dollar during the first half of the week, with GBP/USD hovering over the 1.5720/30 band so far.
GBP/USD indifferent post-data
Spot remained apathetic after UK GDP expanded 0.4% inter-quarter in Q1, matching estimates. On an annualized basis, GDP grew 2.9%, surpassing expectations.
Further releases saw Total Business Investment growing 2.0% QoQ during the same period, while Index of Services rose 0.5% in the three months ended in April.
GBP/USD key levels
The pair is now losing 0.12% at 1.5718 and a breakdown of 1.5626 (low Jun.17) would aim for 1.5542 (low Jun.16) and finally 1.5487 (low Jun.15). On the flip side, the next up barrier lines up at 1.5789 (high Jun.29) followed by 1.5802 (high Jun.24) and then 1.5909 (high Jun.22).
(Market News Provided by FXstreet)