GBP/USD gains over 0.40%, rebounding from daily lows after US Q1 economic growth underperforms expectations.
Mixed signals from the US economy support Sterling's rise.
Technical outlook: Key resistance at 1.2559 with potential to target April 9 high at 1.2709 if upward momentum continues.
The Pound Sterling resumed its advance against the US Dollar, climbing more than 0.40% and trading at 1.2518. During the day, the GBP/USD bounced off daily lows of 1.2450 following the release of mixed economic data from the United States. The US economy in Q1 2024 grew below estimates, which would warrant easing monetary policy. But prices edging up spurred investors' reaction to priced-out rate cuts in 2024
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