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GBP/USD dips below 1.6200

FXStreet (Córdoba) - Broad USD strength and UK data put GBP/USD on the defensive and sent the pair briefly below the 1.6200 level during the European session.

GBP/USD briefly dipped below 1.6200 and hit a low of 1.6191 before finding support and recovering slightly. Data showed UK GDP grew 0.9% in the second quarter, beating the 0.8% rise expected, and 3.2% YoY but investors were unimpressed and focus shifted to disappointing current account figures (£-23.1B vs £-17.0B).

GBP/USD technical levels

At time of writing, GBP/USD is trading at 1.6210, still 0.17% below its opening price, with immediate supports seen at 1.6191 (intraday low) and 1.6160 (Sept 16 low). On the other hand, resistances are seen at 1.6289 (intraday high/100-hour SMA), 1.6300 (psychological level) and 1.6331 (Sept 26 high).

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