Friday morning's live coverage of the the British pound sees a mixed currency in early morning trade; we will be focusing on technical considerations today while also taking note of the various currency forecasts issued by the big-name research institutions.

Highlights:
@ 14:55:GBP tipped to recover versus USD next week
@ 8:40: Technical forecasts and outlook for today

16:00: Outlook for the British pound sterling in the week 17-21 June

We turn to the calendar and see what the upcoming week holds in store for the British pound sterling.

See what next week offers the UK currency in terms of data releases and events.

15:50: Latest rates - sterling holding stead

The pound dollar exchange rate is slightly down on a day-to-day basis at 1.5688.
The pound euro exchange rate has rallied to record gains of 0.05 pct at 1.1760.
The pound Australian dollar rate is slightly lower at 1.6306.
The pound New Zealand dollar rate is flat at 1.9406.

14:55: British pound tipped to recover versus US dollar next week
Commonwealth Foreign Exchange say that while GBP has sunk versus the US dollar today, next week could be better:

"Sterling fell from a four-month peak after hitting stiff chart resistance around its 200-day moving average against the dollar. The pound has been broadly supported by a recent string of strong U.K. economic data that has reduced the probability that the Bank of England will add to its current £375 billion bond purchase plan. Still, weak U.S. data or a dovish Fed next week would likely see the pound resume its broad trend higher."

For further views on the rebound in the US dollar on Friday please see here.

13:10: Euro attempts to gain traction against the pound

Action Forex are tipping more gains for the euro at the expense of sterling north of the 0.8465 level, read our latest report on EUR-GBP here. Any sustained moves in either direction are likely to be difficult to achieve we feel.

10:10: A snippet of good UK economic data

We have seen the headline economic news events pass by - however Friday has not been completely devoid of eco data.

Continuing the good run of positive data releases we hear that British construction output posted the smallest annual fall in almost a year and a half in April, non-seasonally adjusted data showed on Friday.

Will construction contribute to economic growth in the second quarter?

Output dropped 1.1 pct compared with April a year ago - the slowest fall since November 2011, the Office for National Statistics said.

8:45: Spot rates show a mixed sterling

The British pound sterling (Currency:GBP) is mixed on Friday morning:

The pound to euro exchange rate is 0.04 pct lower than seen at Thursday night's close at 1.1755.
The pound to US dollar exchange rate is 0.37 pct in the red at 1.5663.
The pound to Australian dollar rate is 0.08 pct higher at 1.6325.

It is important to remember that the above are wholesale spot rates to which your bank will affix a discretionary spread. However, an independent FX provider will guarantee to beat your bank's offer, thus delivering you more currency. Please find out more here.

8:40: Technical outlook for the British pound

Trading Central give us the following short term forecasts for the UK currency:

GBP/USD: "Long positions above 1.563 with targets at 1.574 & 1.582 in extension. The pair is facing a pull back on its support ahead of further advance."
EUR/GBP: "Long positions above 0.8475 with targets at 0.8525 & 0.854 in extension. The pair is rebounding and is approaching its resistance."
GBP/AUD: "The downside prevails as long as 1.636 is resistance."
GPB/NZD: "The upside prevails as long as 1.908 is support."