GBP/USD keeps highs near 1.3050

The British Pound stays firm on Thursday following upbeat releases in the UK docket, taking GBP/USD to fresh highs in the mid-1.30s for the time being.

GBP/USD bid on data

Cable’s buying interest remains on the rise in the second half of the week, exacerbated by today’s stronger-than-expected retail sales figures for the month of April. The pair was already expecting a catalyst to retake the psychological 1.3000 handle, and found in the recent results the perfect excuse to extend the rally to levels last traded in September 2016.

In addition, the ongoing rally in spot has been bolstered by the renewed and strong selling sentiment around the greenback, particularly after recent developments in the US political scenario with President Trump once again in the centre of another controversy.

Nothing else scheduled in the UK calendar today, whereas the usual weekly report on the labour market and the Philly Fed Manufacturing index are due across the pond seconded by the speech by Cleveland Fed L.Mester (2018 voter, hawkish).

GBP/USD levels to consider

As of writing the pair is gaining 0.56% at 1.3046 facing the next hurdle at 1.3125 (high Sep.22 2016) followed by 1.3351 (high Sep.12 2016) and finally 1.3447 (high Sep.6 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).