FXstreet.com (Córdoba) - Cable fell to 1.6282 posting a fresh intra-day low but rebounded sharply. GBP/USD rose back above 1.6300 and currently is testing levels above 1.6350. The pair trades at 1.6347/52, 0.18% below today's opening price.

On the downside, support lies at 1.6245 (Oct 19 low) and 1.6125 (Sept 30 high). Resistance could be located at 1.6400 (intra-day high) and above at 1.6440 (Oct 27 high).

James Hyerczyk, from ForexHound.com affirms: Look for pressure on GBP USD this morning. Not only does this currency have to deal with the possibility of another expansion of the Bank of England's asset buyback program, but now aversion to risky assets is putting additional pressure on it.

.