GBP/USD Stays Capped Below 100-Day SMA Ahead of UK GDP Data

The GBP/USD pair is trading on a flat note around 1.3415 during the early European session on Friday. Market participants are staying on the sidelines ahead of the release of UK monthly Gross Domestic Product data, which is expected to provide near-term direction.

Technical levels show the pair remains capped below the 100-day simple moving average (SMA), suggesting resistance at that level. A break above the SMA could signal a bullish shift, while failure to hold current support may lead to further downside.

Traders are cautious as the GDP release will offer insight into the UK economic recovery, potentially influencing Bank of England policy expectations.