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GBP/USD turns positive on UK data

FXStreet (Edinburgh) - The pound is accelerating its recovery to the area of 1.5170 vs. the greenback, with GBP/USD coming back from lows near 1.5130.

GBP/USD keeps the recovery post-UK data

The pair is extending the rebound from session troughs near 1.5130 after another revision of the UK GDP has shown that the economy has expanded at an annual pace of 2.4% during the second quarter vs. 2.6% expected and 0.7% inter-quarter.

Further data have shown Business Investment expanding 1.0% on a year to August, sensibly lower than the previous 2.9% advance, while the Current Account deficit shrunk to £16.8 billion during the same period.

GBP/USD significant levels

As of writing the pair is up 0.08% at 1.5162 with the next resistance at 1.5205 (high Sep.29) followed by 1.5241 (high Sep.28) and finally 1.5263 (high Sep.25). On the flipside, a break below 1.5131 (low Sep.30) would aim for 1.5089 (low May 7) and then 1.5035 (low Apr.24).

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