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GBP/USD extends gains, nears 1.6100

FXStreet (Córdoba) - GBP/USD managed to break above its post-GDP high and climbed to fresh daily highs at the beginning of the New York session as the dollar recedes across the board.

GBP/USD picked up momentum and rallied to the upper 1.60s, although it faltered just ahead the 1.6100 psychological level. At time of writing, GBP/USD is trading at the 1.6080 zone, 0.32% above its opening price, having scored a high of 1.6098 so far.

Earlier on the day, data showed UK GDP grew at the slower pace of 0.7% in the third quarter and decelerated from 3.2% to 3.0% year-over-year.

GBP/USD technical levels

If GBP/USD breaks decisively above 1.6100, next resistances could be found at 1.6130 (Oct 22 high) and 1.6183 (Oct 21 high). on the other hand, supports are seen at 1.6015 (intraday low) , 1.5993 (Oct 23 low) and 1.5940 (Oct 16 low).

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