The UK GDP data

The British pound grew against the US dollar after the publication of preliminary data on GDP for the 4th quarter.

• According to published data, in Q4 GDP of the UK increased by 0.5%, exceeding the previous value at the level of 0.4%.
• On an annualized basis, the growth rate slowed to 1.5%, which is lower than the previous value of 1.7%. This can constrain the growth of the British currency.

Technical analysis: The GBP/USD pair maintains an uptrend in the short term, which is more closely related to the weak position of the US dollar, while demonstrating high volatility. The main resistance levels are considered at 1.4343, 1.4400. The main support levels are 1.4160, 1.4100.

Fig. GBP/USD. The current price is $ 1.4257.

Alexander Sivtsov