GBP/USD through 1.30 on upbeat Retail Sales

The buying interest around the Sterling has accelerated following the release of UK data, lifting GBP/USD to  fresh tops above the psychological 1.3000 handle.

GBP/USD bid after data

Cable met a wave of buying pressure after UK’s Retail Sales have crushed estimates during April, expanding at a monthly 2.3% and 4.0% over the last twelve months.

Sales stripping the Fuel sector followed suit, up 2.0% inter-month and 4% on an annualized basis.

Spot regained the key 1.3000 mark for the first time since late September 2016, extending the bullish streak for the fifth session in a row so far.

GBP/USD levels to consider

As of writing the pair is gaining 0.42% at 1.3026 facing the next hurdle at 1.3125 (high Sep.22 2016). On the flip side, the immediate support aligns at 1.2904 (20-day sma) followed by 1.2842 (low May 12) and then 1.2829 (low May 4).