FxWirePro: GBP/USD pushes recovery envelope from 1.3420 level

• GBP/USD initially dipped on Thursday  but recovered some ground       as investors spotlight shifted to key U.S  data later in the day.

• Markets are watching the U.S. economic calendar, which includes weekly jobless claims data. First-time unemployment filings are expected to edge up to 230,000, slightly higher than last week's 227,000.

• Markets also await U.S. GDP data due later in the day, along with core U.S. Personal Consumption Expenditures figures on Friday, for further cues on the Fed's policy path.

•At GMT 11:55, the pair was trading down   0.04 percent  at 1.3463

•   Immediate resistance is located at 1.3500 (Psychological level), any close above will push the pair towards 1.3593(23.6%fib)

•  Strong support is seen at 1.3414(38.2%fib) and break below could take the pair towards 1.3328(50%fib).

  Recommendation: Good to buy  around 1.3450, with stop loss of 1.3400 and target price of 1.3570