Cable trades higher on better UK GDP , targets 1.5670

FX:GBPUSD   British Pound / U.S. Dollar
433 1 10
GBP/USD             has recovered from the low of 1.5527 after release of U.K GDP data which was in line with expectations.

UK GDP expanded by 0.7% in the three months ending Jun 30 comparing to 0.4% growth in preceding quarter.

Technically Cable is facing resistance around 1.5580 and nay break above would extend gains till 1.5630/1.5670.

Any break above 1.5670 confirms trend reversal a jump till 1.5745/1.5800 cannot be ruled out.

On the downside minor support is around 1.5525 and break below target 1.5480/1.5450.

It is good to buy at dips around 1.5585 with SL around 1.5525 for TP of 1.5670/1.5745.
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