Forex: GBP/USD accelerates below 1.6200

FXstreet.com (Córdoba) - The pound has continued to weaken and lost more ground versus the greenback, weighed by the negative market's mood and risk aversion flows amid lack of progress in US budget talks. GBP/USD also suffered from a downward revision on UK GDP.

The Cable accelerated losses on the 1.6200 break, sliding toward a 1-week low of 1.6150 in recent dealings. At time of writing, GBP/USD is quoting around 1.6160, 0.7% below its opening price, and well below its 3-month high of 1.6305 scored on Wednesday.

In terms of technical levels, on the downside immediate supports are seen at 1.6150 (intraday low) 1.6110 (21-day SMA) and 1.6100 (psychological level), while on the other hand, resistances could be found at 1.6200 (psychological level), 1.6240 (intraday level) and 1.6285 (intraday high).

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