GBP/USD hits daily lows sub-1.3300

GBP/USD fell to fresh daily ñpws during the New York session in a bout of dollar demand, briefly dropping below the 1.3300 level.

GBP/USD faced renewed pressure and slid through the 1.33 mark to a low of 1.3279 in recent dealings. However, the pair quickly bounced as investors refrain from adding big positions to Cable ahead of the Bank of England policy meeting on Thursday.

GBP/USD reached a fresh 3-week peak of 1.3370 during the European trade, but failed to hold gains and turned negative for the day, with upbeat ADP data helping the dollar. At time of writing, the pair is trading at 1.3320, 0.25% below its opening price.

GBP/USD technical levels

In terms of technical levels, next supports could be found at 1.3205 (10-day SMA), 1.3170 (Aug 2 low), 1.3056 (Jul 26 low) and 1.2970 (Jul 12 low). On the flip side, immediate resistances are seen at 1.3370 (Aug 3 high), 1.3400 (psychological level) and 1.3480/82 (Jul 15 high/Jun 27 high).