Forex - GBP/USD almost unchanged in subdued trade

The pound was almost unchanged against the U.S. dollar in subdued trade on Friday, as investors remained cautious ahead of the release of U.S. data later in the day, amid ongoing uncertainty over the future of the Federal Reserve's stimulus program. 

GBP/USD hit 1.5416 during European morning trade, the session high; the pair subsequently consolidated at 1.5398, easing up 0.06%. 

Cable was likely to find support at 1.5290, the low of July 24 and resistance at 1.5478, the high of June 25. 

The release of mixed U.S. data on initial jobless claims and durable goods orders on Thursday fuelled fresh uncertainty over whether the Fed will start to scale back its bond buying program later this year. 

The Labor Department said the number of individuals filing for initial jobless benefits last week increased by 7,000 to a seasonally adjusted 343,000, compared to expectations for an increase of 6,000 to 340,000.

The Commerce Department said orders for long lasting manufactured goods rose by a seasonally adjusted 4.2% in June, compared to expectations for an increase of 1.3%, while vore durable goods orders, which exclude volatile transportation items, were flat in June, compared to expectations for a 0.5% increase. 

Sterling was steady against the euro with EUR/GBP dipping 0.03%, to hit 0.8629. 

Later in the day, the U.S. was to produce revised data on consumer sentiment from the University of Michigan.