Investing.com - The pound was almost unchanged against the U.S. dollar on Friday, as investors remained cautious ahead of the release of U.S. second quarter economic growth data later in the day.
GBP/USD hit 1.6286 during European morning trade, the session low; the pair subsequently consolidated at 1.6315, easing 0.01%.
Cable was likely to find support at 1.6244, the low of September 18 and resistance at 1.6416, the high of September 24.
Demand for the dollar remained supported by mounting expectations for an early U.S. rate hike.
Dallas Federal Reserve President Richard Fisher signalled on Thursday that the U.S. central bank may start raising interest rates around the spring of 2015.
The pound had strengthened earlier in the week as investor focus returned to the outlook for U.K. monetary policy in the wake of last week's Scottish independence referendum.
Sterling was steady against the euro, still hovering near two-year highs with EUR/GBP at 0.7811.
The euro remained under pressure after data earlier showed that the Gfk German consumer climate index ticked down to 8.3 this month, from a reading of 8.6 in August. Analysts had expected the index to slip to 8.5.
The report added to concerns over the outlook for growth in the euro zone's biggest economy as data on Wednesday showed that Germany's Ifo business confidence index deteriorated for the fifth successive month in September.
The single currency was hit on Thursday after European Central Bank President Mario Draghi reiterated the bank's commitment to act with more policy measures to boost inflation in the euro zone.