Cable remains firm in early US trading on Friday and regaining traction after pulling back from European session high at 1.3183, posted on acceleration on better than expected UK data.
Current account gap narrowed to 17.7 billion pounds in Q1, beating forecast for 18 billion gap as previous release was revised lower to -19.5 billion from initial -18.4 billion pounds.
GDP rose 0.2% in Q1, beating forecast / previous release at 0.1%.
Fresh bulls emerged above weekly cloud top (1.3254) and pressure descending 10SMA (1.3193) which marks pivotal barrier and close above it is needed to generate fresh bullish signal.
North-heading RSI and momentum support the advance which could extend towards 1.3277 (falling 20SMA) and key 1.33 resistance zone on sustained break above 10SMA.
Res: 1.3193; 1.3233; 1.3277; 1.3300
Sup: 1.3133; 1.3101; 1.3065; 1.3049
