• GBP/USD steadied around on Tuesday as investors awaited UK GDP data and a speech from Bank of England Governor Andrew Bailey later in the day.
• BoE Governor Andrew Bailey's remarks later on Tuesday will also be closely watched, as investors look for clues on the central bank's stance regarding interest rates and economic outlook.
• Markets are also preparing for Thursday's British GDP data, which could influence expectations for the BoE's rate decisions.
• At GMT 11:49, the pair was trading up 0.01% at 1.2365
• Immediate resistance is located at 1.2383( 50%fib), any close above will push the pair towards 1.2426(Feb 10th high)
• Strong support is seen at 1.2307(Jan 23rd low) and break below could take the pair towards 1.2262(38.2%fib).
Recommendation: Good to sell around 1.2400, with stop loss of 1.2480 and target price of 1.2360
