UK GDP missed estimates with 15.5% QoQ in the third quarter. Coronavirus concerns have replaced vaccine hopes and promoted the gold.

The GBP/USD currency pair bottomed for the day at 1.3191 and exchanged nearby ahead of the Asian opening. The 4-hour chart reveals that it´s fighting to remain above a mildly bullish 20 SMA, which remains well above the larger ones. Technical indicators raised from daily highs but hold within positive levels, the Momentum stable and the RSI heading lower, skewing the risk to the downside.

• Support levels: 1.3185 1.3140 1.2990
• Resistance levels: 1.3280 1.3335 1.3380

Forecasts suggest that the UK GDP will ease to 1.5% MoM in September versus 2.1% prior while the Index of Services (3M/3M) for the same period is seen an increase from 7.1% to 11.2%.