• GBP/USD edged lower on Thursday as sterling weakened after data showed the UK economy saw minimal growth in the final quarter of 2025.
• Official figures released on Thursday showed Britain’s economy saw minimal growth in the final quarter of 2025, with activity weaker than initially estimated ahead of Finance Minister Rachel Reeves’ budget.
• The Office for National Statistics said gross domestic product rose by 0.1% in the October-to-December period, matching the modest growth recorded in the third quarter.
• Markets currently see a 63% chance of the BoE cutting rates by 25 basis points to 3.5% on March 19.
• Immediate resistance is located at 1.3689(38.2%fib), any close above will push the pair towards 1.3736(Feb 4th high)
• Strong support is seen at 1.3616 (SMA 20) and break below could take the pair towards 1.3557(50% fib).
Recommendation: Good to buy around 1.3580 with stop loss of 1.3550 and target price of 1.3680
