GBP/USD quickly reverses post-UK GDP dip to sub-1.3300 level

   •  In-line UK GDP fails to inspire bulls.
   •  Persistent USD weakness help limit downslide.

The GBP/USD pair quickly reversed a knee-jerk slide to 1.3285 area but struggled to gain any strong follow-through traction amid thin liquidity conditions.

The latest revision of the UK GDP growth number, which matched original estimates, failed to inspire bulls and prompted some profit taking at higher levels. The dip, however, turned out to be short-lived amid persistent weaker tone surrounding the greenback. 

Wednesday's dovish assessment of the latest FOMC meeting minutes kept the US Dollar bulls on the back-foot and helped the pair to quickly rebound around 25-pips from session lows.

Despite some volatility, the pair seemed lacking any firm directional bias as investors refrained from placing aggressive bets in what could be termed as a relatively quiet trading session on the back of Thanksgiving holiday in the US.

Technical levels to watch

Any subsequent weakness below 1.3285 level (session low) could get extended towards mid-1.3200s, which if broken might now negate any near-term bullish bias.

On the upside, the 1.3345-50 region remains an immediate strong hurdle to conquer, above which the pair seems more likely to extend its upward trajectory towards the 1.3400 handle.