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GBP/USD clinches 1.5500 post-UK data

FXStreet (Edinburgh) - The sterling is now picking up further pace vs. the dollar, lifting GBP/USD back above the 1.5500 handle.

GBP/USD stronger post-retail sales

The pair has seen its upside accelerated after UK Retail Sales have surprised investors to the upside, expanding at a monthly pace of 1.9% during September and 6.5% over the last twelve months, surpassing previous forecasts at 0.4% and 4.8%, respectively. Sales excluding the Fuel component have also followed suit, up 1.7% MoM and 5.7% YoY.

The auspicious results have pushed spot to fresh weekly tops beyond 1.5500 the figure, and trading at shouting distance of the recent multi-week tops at 1.5513 (October 15th).

GBP/USD important levels

As of writing the pair is advancing 0.47% at 1.5490 with the next resistance at 1.5567 (38.2% Fibo of 1.7192-1.4563) ahead of 1.5613 (downtrend from ytd top) and finally 1.5659 (high Sep.18). On the other hand, a breach of 1.5411 (55-day ma) would aim for 1.5334 (200-day sma) and then 1.5183 (23.6% Fibo of 1.7192-1.4563).

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