FXStreet – The upward momentum in the Sterling was quickly reversed, after the UK GDP was released and as noted, the GBP/USD now at 1,2985/80.
GBP/USD Spike let above 1.3000 verb
The Cable could not hold above 1.3000, as the Q1 GDP on a quarterly and annual basis, rose by 0.2% and 2.0% less than expected.
The services index rose in March by 0.2% and business investment rose in Q1 by 0.6%. The BBA mortgage approvals fell in April to 40.75 K, which is worse than expected.
• GBP/USD is likely to have a Highly educated – UOB
GBP/USD to test levels
Currently, the daily gain of 0.21% at 1,2997 and the next Resistances is at 1,3014 (High 24. May), 1,3036 (High-23. May) and 1,3051 (2017 High 18. May). On the other hand, supports are located at 1,2924 (Deep 24. May), 1,2889 (Tief 18. May) and 1,2842 (Deep 12. May).
** FXStreet News Editorial, FXStreet**