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GBP/USD consolidates at daily lows

FXStreet (Córdoba) - GBP/USD came under mild pressure and pulled back from a 12-day high following disappointing UK public sector data.

GBP/USD reached its highest level in nearly 2 weeks at 1.6185, but failed to hold gains and eased to the 1.6140 zone before finding support. At time of writing, Cable is trading at the 1.6150 area, a few pips below its opening price.

The US calendar is pretty light for the day, with only second-tier September’s existing home sales and the Redbook index on the docket.

GBP/USD technical outlook

Valeria Bednarik, chief analyst at FXStreet, signals bearish divergences in short-term charts. “Immediate support comes at former resistance at 1.6125, and once below, 1.6080 comes next”, said the analyst. “A break above the daily high however, should lead to further intraday gains, eyeing then 1.6220/30 price zone”.

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