During todays trading session after the statements of Bank of England experts and optimistic data from UK, british pound managed to preserve gained ground versus the US dollar. GBP/USD cross reached 1.5272 in the early phase of US session today, followed by consolidation at 1.5240.
Resistance level was expected at 1.5331, highest value from Tuesday, and support level was around 1.5099, which was lowest value of April 2nd.
A fresh impulse for the pound was the announcement by Bank of England, regarding a possible expansion of UK economy to 0.5% during Q2 of 2013.
Another positive signal was the reported decline in number of the unemployed people in United Kingdom during April (7300), far surpassing forecast of decline by 3000. Jobless Claims took a smaller drop in comparison with the data from the previous month, a decrease by 9900.
Additionally, ILO Unemployment Rate in UK decreased to 7.8% in March, mismatching the estimated 7.9%.
Meanwhile, on the other side of the Atlantic reported data showed that US Industrial activity fell more than expected during April, sliding by 0.5% after the rise of 0.3% in the previous month.
US monthly Producer Price Index fell by 0.7% in April, exceeding both expectations and data from preceding month, which stated a drop of 0.6%.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
