On Tuesday the British currency traded steady against the U.S. dollar, after
positive U.K. manufacturing production data, as market sentiment was pressured amid growing concerns over the Greek debt
crisis.
GBP/USD hit 1.5250 during European morning trade, the session high; the pair subsequently consolidated at 1.5223. Cable was likely to find support at 1.5134, the low of February 4 and resistance at 1.5354, the high of February 6.
The Office for National Statistics said in a report that U.K. manufacturing production rose 0.1% in December, compared to expectations for a 0.1% downtick. November's figure was revised to a 0.8% increase from a previously estimated 0.7% rise.
On an annualized basis, manufacturing production rose at rate of 2.4% in December, above expectations for a gain of 2.0%, after rising at a rate of 3.0% in the previous month.
The data indicated that industrial production fell by 0.2% in December, compared to expectations for a 0.1% gain, after declining 0.1% in November.
In the meantime, market players were wary about Greece’s future in the euro zone as negotiations with the European Union over the country's debt and bailout continued.
Greek Prime Minister Alexis Tsipras has said he will deliver on pre-election pledges to roll back austerity measures and reject an international bailout extension. Instead, he is seeking a new agreement to cover Greece’s funding needs until June.
The pound was higher against the euro, with EUR/GBP shedding 0.31% to 0.7419.
