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GBP/USD struggles around 1.5700

FXStreet (Córdoba) - GBP/USD was lifted better-than-expected UK retail sales data and extended its recovery from 14-month lows into a second day Thursday.

Cable bounced from a low of 1.5631, and underpinned by solid retail sales, it managed to climb to a high of 1.5705. However, GBP/USD has failed to sustain the 1.5700 level ahead of the Wall Street opening as investors gear up for the next series of US data. At time of writing, the pair is trading at 1.5695, 0.10% above its opening price.

GBP/USD levels to watch

In terms of technical levels, 1.5705 (intraday high) and 1.5719 (Nov 19 high) are immediate resistances in line, while supports are seen at 1.5631 (Nov 20 low), 1.5600 (psychological level) and 1.5589 (2014 low Nov 19).

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