The pound is stable. The UK GDP data

The British pound is stabilizing its position against the US dollar after the publication of data on UK GDP.

• According to published data, GDP growth for the fourth quarter remained at the level of 0.4%. On an annualized basis, the growth rate remains at 1.4%.
• In turn, business investment in the fourth quarter increased by 0.3%, against the previous value of 0.0%. On an annualized basis, the indicator was 2.6%, exceeding the previous value of 2.1%.

Technical Analysis: Despite the decline, the pair GBP/USD maintains an upward trend in the short term. One should consider the main support levels at the marks 1,3995, 1,3945. The resistance levels are 1.4105, 1.4160.

Key recommendations: For pair GBP/USD, one can consider both purchases and sales from the above support and resistance levels with a potential of 50-80 points. Signal to enter the transaction will be the formation of a candle spread from support or resistance levels.

Fig. GBP/USD. The current price is $ 1.4051.

Alexander Sivtsov