GBP/JPY down in European trading hours

The British Pound was lower against the Japanese Yen on Friday after the release of U.S. data on GDP.

GBP/JPY was trading at 124.87, down 1.00% at time of writing.

The pair was likely to find support at 124.51, today’s low, and resistance at 127.33, Monday’s high.

Earlier in the day, preliminary official data showed that Gross domestic product in the U.S. rose less-than-expected to a seasonally adjusted annual rate of 1.0% in the last quarter from 1.3% in the preceding quarter.

Analysts had expected U.S. gross domestic product to rise 1.1% in the last quarter.

Meanwhile, the British Pound was down against the U.S. Dollar and the Euro, with GBP/USD shedding 0.30% to hit 1.6231 and EUR/GBP rising 0.10% to hit 0.8841.