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Forex: GBP/USD trading positively at 1.5176/78 after US data

The GBP/USD has fallen off its session highs of 1.5224 at the onset of American trading Thursday, as investors digest the steady tranche of economic data in the United States, which generally yielded upbeat results. At the time of writing, the pair is surrendering its gains rapidly, though still trading positively at 1.5176/78, up +0.12%

In the United States, Gross Domestic Product Annualized (Q4) came in at just +0.1%, against expectations of +0.05%. In addition, the Gross Domestic Product Price Index (Q4) grew +0.9%, vs. estimates of only +0.6%. Initial Jobless Claims (February 22) were reported at 344K, against a projected figure of 360K. Finally, Personal Consumption Expenditures Prixes (QoQ) have grown +1.5% in the fourth quarter, compared with +1.2% previously.

ICN.com analysts identify calculated resistances in the short-term at 1.5225 onto 1.5250, and finally 1.5280 On the negative side, a pullback towards the 1.5130 support level will open up supports towards 1.5100 and 1.5080.

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