GBP/USD Forecast. Dollar Moved Away From Yearly Lows

GBP/USD Pulls Back From Session Highs

GBP/USD did not manage to settle above the resistance at 1.3080 – 1.3100 and pulled back. Today, traders focused on the GDP report from the UK. The report showed that GDP increased by +0.5% month-over-month in February, compared to analyst forecast of +0.1%.

The nearest support level for GBP/USD is located at 1.2980 – 1.3000. A move below the 1.2980 level will push GBP/USD towards the 50 MA at 1.2923.

GBP/USD 150425 4h Chart