GBP/USD keeps 1.3200 on US GDP, waits for Yellen

Pablo Piovano FXStreet

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).

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Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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