GBP/USD extends post-UK GDP up-move, retakes 1.32 handle and beyond

   •  Better-than-expected UK GDP reaffirms BOE rate hike action
   •  Breakthrough 1.3225-30 zone needed to confirm additional up-move

The GBP/USD pair built on its post-UK GDP up-move and jumped back above the 1.3200 handle, reversing all of previous session's losses. 

Stronger growth numbers underpinning

The pair has been finding some decent support near the 1.3115-10 region and caught some fresh bids following the release of better-than-expected UK preliminary growth figures for the third-quarter of 2017. 

Today's slightly stronger reading now seems to have negated yesterday's dovish comments by the BOE Deputy Governor Jon Cunliffe and reaffirmed an eventual BOE rate hike move at next week's meeting. 

   •  UK growth helps tick November rate hike box - ING

The British Pound got an additional boost after the UK Chancellor Hammond offered his thoughts on the latest GDP report saying that we have a successful and resilient economy, which is supporting a record number of people in employment. 

Retesting 1.3325-30 supply zone

Meanwhile, a consolidate price action around the US Dollar did little to stall the pair's up-move back closer to the 1.3225-30 heavy supply zone. It, however, remains to be seen if bulls are able to lift the pair beyond the mentioned barrier amid surging US Treasury bond yields. 

   •  GBP futures: bearish tone poised to persist

Later during the NA session, the US economic docket, featuring the release of durable goods orders, would now be looked upon for some fresh impetus. 

Technical levels to watch

A convincing break through 1.3225-30 hurdle is likely to accelerate the up-move towards the 1.3300 handle ahead of 1.3335-40 resistance zone. 

On the downside, retracement back below the 1.3200 handle now seems to find strong support near the 1.3155 region, which if broken would turn the pair vulnerable to break below the 1.3100 handle and head towards testing 100-day SMA support near mid-1.3000s.