GBP/USD breaks through key levels

вчераThe pound strengthened after a series of positive economic data. The UK's final GDP grew by 0.5% in the second quarter, beating expectations, while mortgage approvals hit 65,000, beating expectations of 64,000.

The current account deficit narrowed to -28.4 billion pounds from -32.5 billion pounds previously, further supporting the pound. The strong figures gave the pound a temporary boost amid concerns about the broader economic outlook.

Sterling/dollar was at 1.3399/401, up 0.21 percent, showing a mildly bullish tone. The pair is above its pivot point of $1.33827, indicating support at that level.

The 50-day moving average of 1.33826 is closely aligned with the pivot point, cementing its position as a key short-term threshold. The immediate resistance is at 1.34271, followed by 1.34554 and 1.34805. An upward break of 1.34271 could trigger further gains.

On the downside, immediate support is at 1.33594, the next level is at 1.33348 and 1.33120. The 200-day moving average of 1.33257 suggests strong support in this area. If the pair breaks below 1.33827, it shifts market sentiment back to the bearish zone, attracting potential short positions.