GBP/USD refreshes session tops, nearing mid-1.3000s post-US retail sales
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GBP/USD refreshes session tops, nearing mid-1.3000s post-US retail sales

   “¢   Brexit headlines continue to influence sentiment surrounding the British Pound.
   “¢   Mixed US monthly retail sales data does little to hinder the intraday goodish bounce.

The GBP/USD pair quickly reversed an early European session dip and rallied over 80-pips to refresh session tops, around the 1.3040 region in the last hour.

The British Pound came under some renewed selling pressure and dropped back closer to near three-week lows on news that the UK PM Theresa May is likely to change tomorrow’s vote from meaningful to provisional vote.  

However, the UK government spokesman denied the report, confirming that Brexit meaningful vote will take place tomorrow, and eventually triggered a modest short-covering bounce around the major.  

The British Pound got some additional boost following UK lawmaker – Yvette Cooper’s comments that she would force parliament to vote on Brexit delay if the government doesn’t keep their word to deliver a meaningful vote on Tuesday.  

With Brexit headlines turning out to be an exclusive driver of the sentiment surrounding the Sterling, the pair seemed rather unaffected and had a muted reaction to today’s mixed release of the latest US monthly retail sales data for January.

In fact, the core sales figure posted a stronger than expected and came in to show a 0.9% m/m growth as against 0.2% expected, but was largely offset by a further downward revision of the previous month’s already weaker readings and hence, did little to hinder the pair’s goodish intraday rebound.

Technical levels to watch


       Today Last Price:  1.3032
       Today Daily change:  19  pips
       Today Daily change %:  0.15%
       Today Daily Open:  1.3013
       Daily SMA20:  1.3059
       Daily SMA50:  1.2972
       Daily SMA100:  1.2882
       Daily SMA200:  1.2987
       Previous Daily High:  1.3109
       Previous Daily Low:  1.299
       Previous Weekly High:  1.3269
       Previous Weekly Low:  1.299
       Previous Monthly High:  1.3351
       Previous Monthly Low:  1.2773
       Daily Fibonacci 38.2%:  1.3035
       Daily Fibonacci 61.8%:  1.3063
       Daily Pivot Point S1:  1.2966
       Daily Pivot Point S2:  1.2919
       Daily Pivot Point S3:  1.2847
       Daily Pivot Point R1:  1.3084
       Daily Pivot Point R2:  1.3156
       Daily Pivot Point R3:  1.3203


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