23 Dec 2014
GBP/USD little changed, UK GDP data eyed
FXStreet (Mumbai) - Cable traded almost unchanged, in a narrow range during the mid-Asian session, before UK’s final Q3 GDP numbers.
The GBP/USD pair trades flat at 1.5587 levels, after posting day’s high at 1.5597 levels falling little short of 1.56 handle. GBP/USD traded sluggish amid subdued volatility as many traders are already off for Christmas holidays. Traders now await UK’s GDP numbers which are expected to show the nation's economy slowed momentum in Q3. The final estimate of the third-quarter GDP in the UK is expected to show no change to headline figures. Growth is expected to have slowed to 0.7% in the third quarter from 0.9% in the second quarter.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5621 (5-DMA) above which gains could be extended to 1.5667 (Dec 22 High) levels. On the flip side, support is seen at 1.5571 (Dec 22 Low), below which it could extend losses to 1.5547 (Dec 18 Low) levels
The GBP/USD pair trades flat at 1.5587 levels, after posting day’s high at 1.5597 levels falling little short of 1.56 handle. GBP/USD traded sluggish amid subdued volatility as many traders are already off for Christmas holidays. Traders now await UK’s GDP numbers which are expected to show the nation's economy slowed momentum in Q3. The final estimate of the third-quarter GDP in the UK is expected to show no change to headline figures. Growth is expected to have slowed to 0.7% in the third quarter from 0.9% in the second quarter.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5621 (5-DMA) above which gains could be extended to 1.5667 (Dec 22 High) levels. On the flip side, support is seen at 1.5571 (Dec 22 Low), below which it could extend losses to 1.5547 (Dec 18 Low) levels