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GBP/USD recovers ground but remains vulnerable

FXStreet (Córdoba) - The GBP/USD managed to bounce from fresh 4-month lows and erased intraday gains as the dollar weakens across the board amid falling US yields.

However, the pound follows the greenback among the worst performers Thursday, as the British currency continues to suffer on the back of BoE dovish shift. The GBP/USD has been unable to regain the 1.6700 psychological level, and it is currently trading at 1.6690, virtually unchanged on Thursday.

GBP/USD levels to watch

In terms of technical levels, immediate resistances could be found at 1.6700 (psychological level), 1.6755 (Aug 12 low) and 1.6799/1.6800 (10-day SMA/psychological level).

On the other hand, supports are seen at 1.6656 (200-day SMA/Aug 14 low) and the 1.6602/00 area (Apr 8 low/psychological level).

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The US dollar is trading under slightly pressure following worst than expected jobless claims and versus the Japanese Yen, the greenback is testing daily lows at 102.30.
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