The GBPUSD pair has recovered above the 1.3500 handle, after yesterday’s brief dip to 1.3469, ahead of the release of key United Kingdom retail sales data today, for the month of September.
Sterling is currently range-bound, with a neutral intraday trading bias, as the pair trades above its daily pivot point, at 1.3509, but is seemingly unable to close price above the weekly pivot point, located at 1.3553.
Despite sterling’s neutral intraday bias, the GBPUSD pair remains bullish in the medium and long-term. Any corrections below the 1.3400 handle are likely to be met with strong buying interest.
Key intraday GBPUSD support is found at the 1.3492 level, and the current weekly price low, at 1.3465. Further support is found at the 1.3420 level, and the key 1.3388 level.
Key intraday GBPUSD resistance is found at 1.3532 and the pairs weekly pivot point, at 1.3553, and the recent swing price-high, at 1.3569.
Above the 1.3569 level, further upside resistance is found at the 1.3618,1.3630,1.3670 and 1.3711.
