GBP/USD unchanged near 1.2460 post UK GDP

The British Pound kept the composure following today’s releases in the UK calendar, with GBP/USD navigating within a narrow range around 1.2460.

GBP/USD offered on UK data

Spot met some fresh sellers after UK’s GDP figures showed the economy has expanded at an annualized 1.9% during the October-December period (vs. 2.0% forecasted) and 0.7% inter-quarter.

Further data saw Business Investment contracting 0.9% during the same period and the Current Account deficit shrinking to more than £12 billion, bettering consensus. In addition, Index of Services rose 0.6%, coming in short of initial estimates.

The pair stays under pressure nonetheless, although it so far manages well to keep the trade above yesterday’s low in the 1.2400 handle.

GBP/USD levels to consider

As of writing the pair is up 0.13% at 1.2485 and a breakout of 1.2529 (high Mar.30) would aim for 1.2618 (high Mar.27) and finally 1.2664 (200-day sma). On the other hand, the next support aligns at 1.2419 (55-day sma) followed by 1.2401 (low Mar.30) and then 1.2375 (low Mar.29).