GBP/USD: Sterling Largely Unchanged As Q2 GDP Meets Expectations

  • UK Q2 GDP 0.4% Vs 0.4% number expected
  • UK year-on-year GDP 1.3% Vs 1.3% rise expected

The British pound remains largely unchanged against the U.S. Dollar after United Kingdom second fiscal quarter GDP came in as expected, increasing 0.4%. The GBP/USD pair has remained under heavy selling pressure this morning following a strong break higher in the U.S. Dollar Index.

The current daily-low for the GBP/USD pair is 1.2734, with price still trading relatively close to the worst levels on the day. It is also worth noting that UK industrial production and manufacturing production data came in better than expected this morning, but traders appear to have overlooked today’s data, as the focus remains on the U.S. Dollar.

Key support below the 1.2734 level is now found at the June 2017 trading-low, at 1.2707, and the 1.2650 level. Key intraday resistance is also found at the 1.2775 level, while the psychological 1.2800 level and the yesterday’s trading-low, at 1.2818, also offer decent resistance.

What’s your view on the GBP/USD? Trade it with an FCA REGULATED BROKER.


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