Forex - GBP/USD edges lower despite positive U.K. data

The pound edged lower against the U.S. dollar on Friday, despite positive U.K. data, as the possibility of a near-term end to the U.S. Federal Reserve's stimulus program supported the greenback. 

GBP/USD hit 1.5473 during European morning trade, the session low; the pair subsequently consolidated at 1.5483, slipping 0.16%. 

Cable was likely to find support at 1.5415, Thursday's low and resistance at 1.5587, the high of June 10. 

Official data showed that U.K. public sector net borrowing rose less-than-expected in May, rising by GBP10.5 billion, after a GBP6.6 billion increase the previous month. 

Analysts had expected public sector net borrowing to rise by GBP13.8 billion last month. 

But the greenback remained supported after Fed Chairman Ben Bernanke on Wednesday said the bank could begin slowing asset purchases by the end of 2013 and wind them down completely by the middle of 2014 if the economy picks up as the central bank expects. 

Sterling was lower against the euro with EUR/GBP adding 0.17%, to hit 0.8538. 

Trading volumes were expected to remain light, as no U.S. data was scheduled to be released throughout the day.