GBP/USD loses the grip to 1.4150

- Spot recedes to  the mid-1.4100s.

- Flash UK Q4 GDP surprised to the upside.

The Sterling keeps trimming earlier gains and is now driving GBP/USD to test the area of 1.4160/50 against the backdrop of some recovery in the greenback.

GBP/USD gains stopped near 1.4350

After clinching fresh post-Brexit tops near 1.4350 on Thursday, Cable has given away part of those gains and is now trading in the mid-1.4100s. 

The pair´s upside found extra oxygen after preliminary figures for UK GDP in the fourth quarter came in above expectations at 0.5% inter-quarter and 1.5% on an annualized basis. The data added to Tuesday´s strong gains following UK´s labour market report and somewhat confirmed the solid momentum around the British Pound.

Further news from the UK saw Brexit Secretary D.Davis notis that the Brexit transition should be strictly time-limited, while he showed confidence that a political deal could be reached at the EU councill meeting in March.

GBP/USD levels to consider

At the moment, the pair is up 0-26% at 1.4175 and a break above 1.4345 (post-Brexit high Jan.25) would target 1.4400 (200-week sma) en route to 1.4500 (psychological level). On the other hand, the next down barrier aligns at 1.4083 (low Jan.25) seconded by 1.3972 (10-day sma) and finally 1.3754 (21-day sma).