GBP/USD probes highs above 1.3200 post-UK data

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.

Pablo Piovano FXStreet

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).

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD tests nine-day EMA support near 1.1850

EUR/USD remains in the negative territory for the fourth successive session, trading around 1.1870 during the Asian hours on Friday. The 14-day Relative Strength Index momentum indicator at 56 stays above the midline, confirming steady momentum. RSI has eased but remains above 50, indicating momentum remains constructive for the bulls.

GBP/USD consolidates around 1.3600 vs. USD; looks to US CPI for fresh impetus

The GBP/USD pair remains on the defensive through the Asian session on Friday, though it lacks bearish conviction and holds above the 1.3600 mark as traders await the release of the US consumer inflation figures before placing directional bets.

Gold recovers swiftly from weekly low, climbs back closer to $5,000 ahead of US CPI

Gold regains positive traction during the Asian session on Friday and recovers a part of the previous day's heavy losses to the $4,878-4,877 region, or the weekly low. The commodity has now moved back closer to the $5,000 psychological mark as traders keenly await the release of the US consumer inflation figures for more cues about the Federal Reserve's policy path.