The British pound has pressed higher against the U.S dollar, following the release of better than expected UK Retail Sales data, for the month of October. The GBPUSD pair currently trades close to the 1.3200 level, as the pound’s intraday sentiment remains strong after UK Retail Sales increased 0.3 percent month-on-month. Traders now await a raft of FED speakers and industrial production data figures from the U.S economy. Financial markets are likely to remain tense, until the outcome of today’s vote on the proposed tax reforms in U.S Senate.
The GBPUSD pair remains intraday bullish while trading above the 1.3168 level. Further bullish advancement towards the 1.3268 and 1.3307 levels seem increasingly likely.
Should price-action decline below the 1.3168 level, sellers will likely start to target the 1.3130 and 1.3109 technical support regions.
