The British pound has moved above the 1.3200 level against the U.S dollar, hitting 1.3229 during the Asian session. GBPUSD buying demand has returned, as the U.S dollar index weakens. and intraday sellers failed to break below the 1.3140 level during yesterday’s U.S session. Price-action is currently trading around the 1.3218 level, ahead of the release of UK Retail Sales data.
The GBPUSD pair is expected to advance higher while trading clearly above the 1.3200 level. Buyers are expected to target the weekly pivot point, at 1.3233 and the 1.3268 resistance area.
If intraday GBPUSD sellers push price-action back below the 1.3200 level, the pair is expected to find support from the daily pivot point, at 1.3179, and the key 1.3149 support level.
