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Forex: GBP/USD threatens 1.5500 after US GDP

FXstreet.com (Córdoba) - 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.

GBP/USD which was already trading above 1.5480 before the data, stretched to a new high of 1.5497. At time of writing, GBP/USD is trading around 1.5490, recording a 0.4% gain, after soaring on Thursday propelled by strong UK GDP.

From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com comments that accelerations above 1.5490 would confirm more GBP gains, with next resistances then at 1.5540 and 1.5580 price zones.

"Supports come at 1.5450 and 1.5420 and as long as above this latter, bulls will rule the pair", Bednarik says.

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