• GBP/USD edged higher initially on Thursday but gave up ground as investors digested UK GDP and US PPI data .
•U.S. producer prices were unchanged in July as falling goods prices offset a modest rise in services costs, reinforcing expectations that the Federal Reserve could keep interest rates unchanged next month.
• The Labor Department report on Thursday followed Wednesday’s data showing mild consumer inflation last month.
• Britain's economy unexpectedly grew in June as easing energy prices, the men's soccer World Cup and hot weather supported business activity, official data showed.
• Britain's GDP rose 0.3% in June after being flat in May, putting the economy on track for the strongest first-half growth among G7 nations.
• Immediate resistance is located at 1.3551( 38.2%fib), any close above will push the pair towards 1.3609(Higher BB)
• Strong support is seen at 1.3432(38.2%fib) and break below could take the pair towards 1.3422(SMA20).
Recommendation: Good to sell around 1.3490 , with stop loss of 1.3540 and target price of 1.3400
