Sterling USD trades @ 1.5050

The pair has eroded initial gains and is now trading almost unchanged vs. the dollar, coming down from session peaks in levels just shy of 1.5100 the figure. Data releases in the British economy posted earlier came in below expectations, weighing on GBP and collaborating with the correction lower. In the meantime, markets continue to focus on the US docket, with the GDP Annualized during Q4 and the Reuters/Michigan index as the main events.

GBP/USD key levels At the moment the pair is down 0.01% at 1.5050 with the next support at 1.5018 (low Jan.29) followed by 1.4972 (low Jan.26) and then 1.4952 (low Jan.23). On the other direction, a surpass of 1.5100 (psychological level) would aim for 1.5141 (21-d MA) ahead of 1.5161 (high Jan.29).

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