UK pound
The UK pound has fallen on GDP data iStock

The UK pound slipped to a three-week low on Thursday (28 May). GBP/USD dropped to 1.5265, its lowest since 8 May, from the previous close of 1.5355. The pair have fallen 1.4% so far this week adding to the 1.5% loss of the previous week.

Sterling had touched a six-month high of 1.5815 earlier in May but if the negativity of the recent days continues, it could mirror April's multi-year low once again.

The UK economy expanded 0.3% on a quarterly basis in the first three months of this year, matching the previous quarter rate, but trailing analysts' expectations of 0.4%.

A services sector index dropped to 0.4% from 0.7% when analysts had been expecting 0.5%.

Another data showed the BBA mortgage approvals rose to 42,100 in April from the March reading of 38,800 beating market forecasts of 39,200.

UK pound
Pound has its immediate supports near the 50-day SMA. IBTimes UK/FXStreet