GBP/USD keeps 1.3200 on US GDP, waits for Yellen
|The British pound keeps its positive performance today, now taking GBP/USD to the 1.3215/20 band.
GBP/USD firmer ahead of Yellen
Spot kept the composure after another revision of US GDP figures for the second quarter has come in in line with expectations, showing the economy is expected to growth 1.1% on a yearly basis.
In addition US trade balance showed the trade deficit shrink to $59 billion during July, less than forecasted.
Later in the session, the greenback will remain under scrutiny in light of the speech by Chief J.Yellen at the Jackson Hole Symposium.
GBP/USD levels to consider
As of writing the pair is advancing 0.15% at 1.3212 facing the next resistance at 1.3321 (23.6% of the post-Brexit down move) followed by 1.3373 (high Aug.3) and then 1.3481 (high Jul.15). On the flip side, a breakdown of 1.3108 (20-day sma) would aim for 1.2863 (low Aug.15) and finally 1.2849 (low Jul.11).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.