The Pound is under pressure. The UK GDP data

The British pound fell sharply against the US dollar amid weak preliminary data on the UK.

• According to published data, in the first quarter, GDP growth was 0.1%, against the previous value of 0.4%. On an annualized basis, the growth slowed to 1.2%, against the previous level of 1.4%.

Technical analysis: The pair GBP/USD keeps a downtrend in the short term. At the moment, one should consider the nearest support levels at the marks 1.3770, 1.3730. The resistance levels are 1.3900, 1.3955.

Key recommendations: Both purchases and sales should be considered on the pair. The signal for entering the transaction will be the formation of a candlestick from the above support and resistance levels.

Fig. GBP/USD. The current price is $ 1,3812.

Alexander Sivtsov