The pound slipped against its major rivals in European deals on Tuesday, after data showed that U.K. economy grew less-than-expected in the third quarter.
Data from the Office for National Statistics showed that the GDP advanced 2.3 percent on year, slower than forecasts for 2.4 percent growth.
On a quarterly basis, the U.K. economic growth slowed to 0.5 percent, after a 0.7 percent advance in the second quarter. The reading is lower than expectations for a 0.6 percent growth.
The pound fell to near a 2-week low of 1.5301 against the greenback, 4-day low of 0.7211 against the euro and an 8-day low of 184.30 against the yen, reversing from its prior highs of 1.5359, 0.7191 and 185.91, respectively.
Pulling away from an early high of 1.5103 against the franc, the pound edged down to 1.5051.
The next possible support for the pound is seen around 1.52 against the greenback, 1.49 against the franc, 182.5 against the yen and 0.73 against the euro.
The material has been provided by InstaForex Company – www.instaforex.com