The GBP/USD is extending its consolidative phase into the European session, with the release of UK retail sales having little impact on the pair. The GBP/USD settled in a narrow range just below 1.6400 after seesawing sharply and printing a fresh 2-year high in the wake of the Fed taper surprise. Having spent most of the day within, 1.6360/1.6400, the GBP/USD is currently trading at the 1.6380 zone, only a few pips below its opening price. GBP/USD levels to watch In terms of technical levels, the GBP/USD could find immediate support levels at 1.6360 (daily low), 1.6330 (20-day SMA) and 1.6300 (psychological level). On the flip side, resistances are seen at 1.6397/1.6400 (daily high/psychological level), 1.6465 (Dec 10 high) and 1.6483 (Dec 18 high).