FXstreet.com (Córdoba) - As the dollar weakened broadly in the wake of disappointing trade data, GBP/USD managed to bounce strongly from lows and erased intraday losses in recent dealings.

GBP/USD had fallen to a low of 1.6105 during the European session, but it was dragged higher by the sharp EUR/USD rise and climbed to a high of 1.6168. At time of writing, the cross is quoting at the 1.6140 zone, still down 0.1% on the day.

On the upside, if the Cable manages to break above the 1.6170/80 zone, next resistances are seen at 1.6200 and 1.6240, while supports could now be found at 1.6105/00, 1.6075 (100-hour SMA) and 1.6040.