Investing.com - The pound held steady against the U.S. dollar on Friday, after the release of mixed U.K. economic reports and as markets eyed the release of U.S. economic growth data due later in the day.
GBP/USD hit 1.5051 during European morning trade, the session low; the pair subsequently consolidated at 1.5058.
Cable was likely to find support at 1.4973, the low of January 26 and resistance at 1.5219, the high of January 28.
In a report, the Bank of England said that net lending to individuals fell to £2.2 billion in December from £3.1 billion in November, whose figure was revised down from a previously estimated £3.3 billion. Analysts had expected net lending to individuals to hit £3.2 billion last month.
Data also showed that U.K. mortgage approvals rose by 60,280 last month after a downwardly revised 58,960 increase in November. Analysts had expected the number of new mortgage approvals to rise by 59,000 in December.
The reports came after data published earlier Friday showed that the U.K. Gfk consumer confidence index improved to 1 this month from minus 4 in December, compared to expectations for a reading of minus 2.
Meanwhile, the dollar remained supported after the Federal Reserve indicated that interest rates could start to rise around mid-year.
Following its policy meeting on Wednesday, the Fed said it would keep rates on hold at least until June and reiterated its pledge to be patient on raising interest rates, while acknowledging the solid economic recovery and strong growth in the labor market.
The greenback was also boosted by data on Thursday showing that U.S. jobless claims fell to the lowest level since 2000 last week.
Sterling was lower against the euro, with EUR/GBP adding 0.11% to 0.7520.
Later in the day, the U.S. was to release preliminary data on fourth quarter growth as well as reports on business activity in the Chicago region and revised data on consumer sentiment.