Investing.com - The pound edged lower against its U.S. counterpart on Thursday, despite the release of upbeat U.K. data, as the greenback remained supported by comments made by Federal Reserve Chair Janet Yellen on Wednesday.
GBP/USD hit 1.3002 during European morning trade, the session low; the pair subsequently consolidated at 1.3004, slipping 0.13%.
Cable was likely to find support at 1.2912, the low of September 23 and a one-month low and resistance at 1.3125, the high of September 22.
The Bank of England reported on Thursday that net lending to individuals rose by £4.5 billion in August, compared to expectations for a £4.0 billion increase and after a £3.8 billion gain the previous month.
In the U.S., Federal Reserve Chair Janet Yellen told Congress on Wednesday that the central bank does not have a "fixed timetable" for modifying its monetary policy.
But the greenback found support as Yellen added that continued job creation at its current pace would cause the economy to overheat and, in that case, the Fed could be forced to raise rates faster than expected.
Sterling was also lower against the euro, with EUR/GBP adding 0.16% to 0.8632.
The euro’s gains were limited however, as official data on Thursday showed that the number of unemployed people in Germany rose by 1,000 this month, disappointing expectations for a 5,000 drop.
The number of unemployed people declined by 6,000 in August, whose figure was revised from a previously estimated 7,000 slide.