- Cable clinches fresh tops above 1.3200 the figure.
- Brexit negotiations remain the exclusive driver of spot.
- UK’s Retail Sales surprised to the upside in August.
The buying interest remains well and sound around the British Pound in the second half of the week and is now pushing GBP/USD to fresh daily highs above 1.3200 the figure.
GBP/USD bolstered by data, looks to Brexit
Cable clinched fresh tops beyond the 1.3200 milestone after UK’s Retail Sales expanded more than expected 0.3% MoM during last month and 3.3% over the last twelve months.
In addition, Core sales gained 0.3% inter-month and 3.5% on an annualized basis, also coming in above prior surveys.
Cable, in the meantime, remains volatile and always looking to Brexit headlines as the almost exclusive driver of the price action, along with the persistent weakness hitting the buck.
GBP/USD levels to consider
As of writing, the pair is up 0.37% at 1.3192 and a break above 1.3295 (high Jul.16) would aim for 1.3364 (high Jul.9) and finally 1.3521 (200-day SMA). On the flip side, the immediate support aligns at 1.3085 (10-day SMA) seconded by 1.2992 (21-day SMA) and finally 1.2785 (low Sep.5).
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