The Pound climbed against most majors after U.K. retail sales increased more than economists predicted in May, boosting speculation that Britain's economic recovery is gathering pace. Retail Sales came out at 0.6% vs. 0.1% expectation. The main resistance of GBP/USD on the daily chart is located at 1.4870, if the price trades above this level the momentum will continue to be bullish. RSI and 10 moving average support an increasing trend as well. Overall, GBP/USD traded with a low of 1.4644 and with a high of 1.4838. Today, Prelim Mortgage Approvals are expected at 49K vs. 50K prior, Public Sector Net Borrowing is expected to become positive from -0.62B to 2.87B.

GBP/USD - Last: 1.4818

Resistance

1.4855

 
 

Support

1.4770

1.4680

1.4570

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