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GBP/USD bounces from below 1.6100

FXStreet (Córdoba) - Following a short-lived drop below 1.6100, GBP/USD managed to erase intraday losses and went back to trade within its last sessions' range.

GBP/USD found support at the 10-day SMA at 1.6086 and climbed all the way back to the upper side of the range, but stalled just ahead Asian session highs. At time of writing, Cable is trading at 1.6125, little changed on the day, as investors gear up for the next round of US data and the Federal Reserve 2-day policy meeting gets underway.

GBP/USD levels to watch

In terms of technical levels, GBP/USD could find immediate resistances at 1.6145 (Oct 26 high), 1.6183 (Oct 21 high) and 1.6200 (psychological level). On the other hand, supports are seen at 1.6086/79 (Oct 28 & 27 lows/10-day SMA), 1.6015 (Oct 24 low) and 1.6000 (psychological level).

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