FXstreet.com (Barcelona) - The Sterling seems to be in the way to test 1.6000 level against the Dollar today's session after rising more than 150 pips in the last two hours from intra-day low at 1.5825 to break MA55 level in the hourly chart at 1.5910 and post new session high at 1.5990.
Currently the pair is trading around 1.5970/80, 0.45% above today's opening price action at 1.5879.
Pound has been fueled by the UK retail sales better than expected data. CBI Retail sales have reached a balance of +3% between retailers achieving higher year on year sales volumes, and those whose sales were lower year on year. In August the retail sales balance was -16%, and the market consensus for September, has advanced a balance of approximately -13%.