The Cable got support due to strong data on retail sales, which added an impressive 1.3% vs. 0.5%.
The data for the previous month were also revised to increase that pushed the pair GBP/USD to 1.4646.
The cable continues to please investors. Despite the fact that in recent days the pair has shown rapid growth, it still has the potential for growth, and in the long term.
Commodity currencies of export-oriented economies are losing their positions. It seems that investors are looking for strong currencies. And now, the British pound has several supporting factors: the recent results of the survey that show the desire of Great Britain to stay in the EU, and the strong data on retail sales.
How to trade
On the hourly chart, the pair GBP/USD has the key levels: 1.4727, 1.4660, 1.4566. The continuation of upward movement is possible after the breakdown of 1.4660. The short-term downward movement is possible if the pair goes below 1.4566. We would buy call options if the pair rises above 1.4660. We would buy put options if the pair falls below 1.4566.
Expiry time: 20:00 GMT