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Forex: GBP/USD pushing higher above 1.5250

FXstreet.com (Barcelona) - GBP/USD is last at 1.5278, near session highs, up +0.32% for the week so far, ahead of later on UK prelim GDP figure, amid broad debate on whether the UK will go through a triple dip recession, or not. The pair has been capped so far for the week below Monday's highs at 1.53 round, also 61.8% Fibo retrace of latest leg down from Friday's highs at 1.5370.

According to David Song, Currency Analyst at DailyFX: “we may see the GBPUSD make another run at the 1.5400 figure as the economic docket is expected to show the U.K. skirting a triple-dip recession,” David says, adding: “Indeed, the growth rate is expected to expand 0.1% in the first quarter after contracting 0.3% during the last three-months of 2012, and a positive development may increase the appeal of the British Pound as it dampens speculation for additional monetary support,” he suggests.

Immediate resistance to the upside for GBP/USD shows at mentioned weekly Monday's highs 1.5300, followed by April 18 highs at 1.5313, and Friday's/April 05 highs at 1.5364/74. To the downside, closest support lies at April 16 lows 1.5267, followed by April 08 lows at 1.5237, and Tuesday's weekly lows at 1.5195.

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