Forexpros - The pound was lower against the U.S. dollar on Tuesday, as concerns over the outlook for global economic growth saw investors seek out the safety of the greenback. GBP/USD hit 1.5852 during European morning trade, the session low; the pair subsequently consolidated at 1.5864, sliding 0.16%. Cable was likely to find support at 1.5804, the low of April 5 and resistance at 1.5930, the session high and a one-week high. Friday’s weaker-than-expected U.S. jobs data continued to cast doubts over the strength of the U.S. economic recovery and fuelled expectations that the Federal Reserve could conduct a fresh round of quantitative easing, which would weaken the dollar. The Department of Labor said the U.S. economy added just 120,000 jobs in March, the lowest number since December and well below expectations for a 203,000 increase. Elsewhere, official data released earlier showed that Chinese imports declined sharply in March, dampening the outlook for global growth. China posted a trade surplus of USD5.35 billion last month, as imports grew just 5.3% after increasing by 39.6% in February. Concerns over the ongoing debt crisis in the euro zone also weighed on risk appetite. Earlier in the day, the yield on Spanish 10-year government bonds climbed to 5.8%, while the country’s government reiterated its aim to cut the budget deficit to 3% of gross domestic product next year. The pound was little changed against the euro, with EUR/GBP inching up 0.02% to hit 0.8249. Earlier Tuesday, industry data showed that U.K. house prices declined at the slowest pace since June 2010 in March. The Royal Institution of Chartered Surveyors' seasonally adjusted house price balance rose to minus 10 from minus 13 in February, beating forecasts for a more modest rise to minus 12.

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