UK GDP grew at a 0.6 % rate in the first quarter of 2006 with the annual rate of 2.2 percent, exactly in line with analysts' forecasts. Sterling was traded lower against the US Dollar as forex traders took the view that this just confirmed the ‘no change’ stance towards interest rates from the Bank of England. GBP/USD traded 30 pips lower on the release of the data, trading down to 1.7805, recovering to trade around the 1.7820 level. Today’s action has been disappointing for those looking for a higher British Pound against the US Dollar , however , it would need a European session close below 1.7785 to get fx traders looking for the next support level . Below this the UK currency would have support at 1.7680 then 1.7625. Below this support is about 100 pips lower at 1.7525. On the upside a close above 1.7840 is needed to keep cable bulls happy. 1.7935 remains the major resistance and only a close above this level would have currency traders looking for 1.8050 and then the high of 22 September 2005 at 1.8150.