GBP/USD retreats from one-week tops after upbeat US durable goods orders

   •  Stalls post-UK GDP upsurge
   •  Capped by stellar US durable goods order data

The GBP/USD pair continued gaining traction through early NA session and jumped to one-week tops, albeit retreated few pips post-US macro data. 

The pair's post-UK GDP strong bullish momentum stalled near the 1.3265-70 region after data released from the US showed durable goods orders recorded a solid m-o-m growth of 2.2% in September, with orders excluding transpiration items rising 0.7% on the month. 

The readings bettered even the most optimistic estimates and helped the US Dollar to recover the majority of its early lost ground. The pair, however, has managed to hold above a strong horizontal resistance, now turned support near the 1.3225-30 region, despite a sharp 20-25 pips pull-back from highs. 

Today's US economic docket also features the release of new home sales data, while the key focus would now be on Friday's release of advance US GDP growth numbers. 

Technical outlook

Valeria Bednarik, American Chief Analyst at FXStreet writes, " the pair has scope to extend its advance up to 1.3336, this month high. The mentioned 1.3220 price zone has become now a key support and as long as the pair holds above it, chances will remain towards the upside."