• The GBP/USD pair declined on Thursday, as the Pound found short selling interest after brief rise towards 1.2270 on upbeat UK GDP data.
   
• The pair eased to intraday low at 1.2147, after hitting one-week high early in European session.
   
• Gross domestic product expanded by 0.5 percent in the July-September period, less rapid than the unusually strong growth of 0.7 percent seen in the second quarter but comfortably above a median forecast of 0.3 percent.
   
• Further upside is expected to be limited as the pound presents negative tone in the short term and it is set to resume downward momentum against the greenback.
   
• To the upside, the strong resistance can be seen at 1.2260 a break above this level would expose to cable to next resistance level at 1.2323.
   
• To the downside immediate support can be seen at 1.2135, a break below will open the door towards next level at 1.2055.
  
  Resistance Levels
  
  R1: 1.2200 (50% Retracement Level)
  
  R2: 1.2260 (61.8% Retracement Level)
  
  R3: 1.2323 (Oct 12th high)
  
  Support Levels
  
  S1: 1.2135 (38.2% Retracement Levels)
  
  S2: 1.2055 (23.6% Retracement Levels)
  
  S3: 1.2000 (Psychological levels)