Forex - GBP/USD remains lower after U.S., U.K. data

The pound remained lower against the U.S. dollar in subdued trade on Monday, after the release of better-than-expected U.S. data as market awaited monetary policy statements by both the Federal Reserve and the Bank of England later in the week. 

GBP/USD hit 1.5329 during U.S. morning trade, the pair's lowest since July 25; the pair subsequently consolidated at 1.5340, shedding 0.30%. 

Cable was likely to find support at 1.5265, the low of July 25 and resistance at 1.5440, the high of June 26. 

Industry data showed tha U.S. pending home sales fell 0.4% in June, less than the expected 1% decline, after a 5.8% rise the previous month.

The data came as markets were jittery ahead of the Fed's upcoming policy meeting, after mixed U.S. economic reports last week fuelled further uncertainty over whether the central bank will soon begin to scale back its bond-buying program. 

In the U.K., the Confederation of British Industry said that its index of realized sales rose more-than-expected in July, advancing to 17 from a reading of 1 the previous month. Analysts had expected the index to rise to 10 last month. 

Separately, the Bank of England said net lending to individuals rose to GBP1.5 billion in June, from GBP1.2 billion the previous month. 
Analysts had expected net lending to individuals to rise to GBP1.4 billion last month. 

Sterling was steady against the euro with EUR/GBP easing up 0.05%, to hit 0.8636. 

Market participants were also looking ahead to the BoE's policy statement on Thursday for indications on the future of the bank's monetary stimulus program, after official data last week showed that growth in the U.K. economy accelerated in line with expectations in the second quarter.