GBP/USD finds support ahead of 1.6300

FXstreet.com (Córdoba) – The GBP/USD found support at the 1.6310 area and halted the downward correction that started after the pair printed a fresh 11-month high of 1.6373.

Coupled with a technical correction, the GBP came under pressure during the European session in the wake of disappointing UK mortgage and lending data and slid to a low of 1.6313 versus the USD. However, the GBP/USD managed to bounce and it is currently trading at the 1.6335 zone, virtually unchanged on the day, ahead of an empty (in the data front) NY session.

GBP/USD technical outlook

From a technical perspective, Valeria Bednarik, …read more