FXstreet.com (Córdoba) - Cable is posting moderate gains against the Dollar on Tuesday. GBP/USD rebounded at 1.6300 during the American session and rose to test levels above 1.6400 but it was rejected. Afterwards the pair pulled back to 1.6365. Currently trades at 1.6372/75, 0.36% above today's opening price. On the upside, resistance lies at 1.6400 and above at 1.6440/50 (intra-day high).
Valeria Bednarik, collaborator at FXstreet.com affirms: Pound turned positive, supported by a surprise grow in retail sales. The Confederation of British Industry's distributive trades survey reported sales balance rose to +8 in October from +3 in September, better than economists' forecasts of a rise to +5. GBP/USD reached 1.6440 resistance area, retreating from that level, yet still positive in the day.