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Forex: EUR/USD climbed to 1.3040 on US GDP

FXstreet.com (Barcelona) - The bloc currency picked up pace and rose to levels shy of 1.3040 on Friday, after the US economy grew 2.5% on a yearly basis during the first quarter, below the median at 3.0% albeit bettering the previous expansion of 0.4%.

Further data showed that the inflation figures, measured by the Personal Consumption Expenditures, rose below expectations 0.9% during the same period. The Core print rose 1.2%.

At the moment, the pair is up 0.09% at 1.3023 facing the next resistance at 1.3094 (high Apr.25) ahead of 1.3130 (high Apr.19) and then 1.3202 (high Apr.16).
On the flip side, a breach of 1.2988 (low Apr.25) would the target 1.2954 (low Apr.24) en route to 1.2948 (MA200d).

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The British pound continued to push higher versus the dollar and reached its highest in over 2 months, after data showed US Q1 GDP annualized (advance) came in strong, but below expectations.
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