Investing.com - The pound was almost unchanged against the U.S. dollar on Wednesday, hovering close to one-and-a-half week highs as market sentiment improved ahead of the Federal Reserve's upcoming policy statement.
GBP/USD hit 1.5198 during European morning trade, the session high; the pair subsequently consolidated at 1.5194.
Cable was likely to find support at 1.5060, Tuesday's low and resistance at 1.5269, the high of January 15.
Investors were looking ahead to the outcome of Wednesday’s Fed meeting, with the bank expected to stick to its pledge to be patient on tightening monetary policy.
Markets shrugged off data on Tuesday showing that U.K. gross domestic product expanded by 0.5% in the final three months of 2014, below forecasts for growth of 0.6%.
Year-over-year, U.K. economic growth grew 2.7% in the three months ending December, missing expectations for a gain of 2.8%.
A separate report showed that U.K. mortgage approvals dropped to a 20-month low of 35,700 last month from November's total of 36,700.
Sterling was higher against the euro, with EUR/GBP shedding 0.27% to 0.7470.