Forex - Pound slips lower vs. dollar ahead of U.S. data

The pound slipped lower against the dollar on Thursday, as investors looked ahead to data on weekly U.S. jobless claims and revised data on U.S. second quarter growth later in the session.

GBP/USD hit 1.5497 during European afternoon trade, the session low; the pair subsequently consolidated at 1.3264, sliding 0.09%.

Cable was likely to find support at 1.5475 and resistance at 1.5551, Wednesday’s high.

The dollar was boosted by expectations that positive economic data would support the view that the Federal Reserve could start to phase out stimulus measures from next month.

The pound’s losses were held in check amid expectations that the Bank of England may raise interest rates much earlier than it has indicated, following a recent series of improved U.K. economic data.

The pound was also supported following reports that the U.K.'s Vodafone had resumed discussions on a plan for Verizon to buy out Vodafone's stake in U.S. joint venture Verizon Wireless.

Market participants remained cautious amid concerns over prospects for a U.S.-led military strike against Syria’s government, following the alleged use of chemical weapons.

Sterling was lower against the euro, with EUR/GBP down 0.48% to 0.8550.

The single currency was pressured lower by speculation that Greece will require a third bailout package in 2014.