FXstreet.com (Barcelona) - Pound's reversal from 1.6100 session high has extended on the back of weaker than expected GDP figures, and the pair broke past 1.6030 (Monday0's low) to reach levels right below 1.6000, the lowest prices in the last 2 months.

The Pound is trading at the moment at 1.6010, after having hit a fresh 2-month low at 1.5995. Support levels, below 1.6000 lie at 1.5920 and 1.5850. On the upside, resistance levels lie at 1.6030/50 (previous lows), and above here, 1.6100 (session high) and 1.6165 (Dec 21 high).

UK GDP has been revised to a 0.2% decline in the third quarter, from the 0.3% drop previously estimated. Year on year, GDP has dropped at a 5.1% pace, unchanged from previous estimation. Market analysts expected a 0.1% quarterly decline and a 4.9% year on year drop.

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