GBP/USD Near 1.4650 Post-UK Data
The Sterling has regained the 1.4600 handle and above vs. the greenback today, now pushing GBP/USD to the vicinity of 1.4650.
GBP/USD higher on data
After a brief test of session lows near 1.4560, spot is up over a cent
in response to auspicious results from UK’s retail sales, expanding 1.3%
on a monthly basis vs. 0.5% estimated. Core sales have followed suit,
up 1.5% MoM vs. 0.6% forecasted.
GBP remains on a firm note backed by latest poll
results showing the ‘Remain’ vote would be widening its gap vs. the
‘Leave’ option in the upcoming UK referendum on June 23.
GBP/USD levels to consider
As of writing the pair is gaining 0.32% at 1.4646 facing the immediate
hurdle at 1.4670 (high Feb.4) followed by 1.4770 (high May 3) and them
14815 (2016 high Jan.4). On the other hand, a breakdown of 1.4500
(20-day sma) would aim for 1.4330 (low May 16) and finally 1.4088 (low
Apr.14).
