Fourth time's the charm for GBP/USD buyers this week
The more upbeat retail sales report earlier is serving to give buyers added conviction to break higher as they shake off the 1.2100 handle and also claim a break above the 200-hour MA (blue line) @ 1.2109.
That means that buyers are now in near-term control as we see price hit a high of 1.2151 to test the 23.6 retracement level as well as the trendline resistance pointed out above.
If buyers can hold a break above those levels, we could see a further run higher amid more short covering as the Brexit focus continues to take a breather ahead of September.
