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Forex: GBP/USD trading at 1.5200 level

FXstreet.com (Barcelona) - The GBP/USD has stayed glued to the 1.5200 barrier Friday, refusing to budge off of this level during European trading. At the onset of US trading and in the aftermath of economic data out of the US that was generally mixed, the cross continues to trade at 1.5191/94 at the time of writing, nearly at opening levels.

In the United States, Core Personal Consumption Expenditure – Prices Index (YoY and MoM) came in at +1.3% in February (vs. +1.3% previously) and +0.1% in February (missing expectations of +0.2%). In addition, Personal Income (MoM) grew +1.1% in February, against a projection of only +0.8% growth. Finally, Personal Spending has climbed +0.3% in the month of February (missing a consensus of +0.6%).

According to the ICN.com analyst team, the GBP/USD will encounter resistance at 1.5225 onto 1.5250, and finally 1.5280. On the decline, the pair is slated to face short-term support at 1.5100, ahead of 1.5080, and finally 1.5035.

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