GBP/USD trims losses post-UK data, around 1.4180

The sterling is extending its recovery from daily lows in the 1.4120 area vs. the dollar, now pushing GBP/USD to the 1.4180/85 region post-data.

GBP/USD bid on data, looks to BoE

The pair kept the recovery alive after UK’s Retail Sales have surprised markets to the upside today. In fact headline sales have expanded 0.9% MoM in May and 6.0% over the last twelve months, while sales excluding the Fuel component also rose 1.0% inter-month and 5.7% on a yearly basis.

Ahead in the session, the BoE is expected to leave its monetary stance unchanged while ‘Brexit’ is seen taking centre stage amongst MPC members.

GBP/USD levels to consider

As of writing the pair is retreating 0.18% at 1.4181 and a break below 1.4091 (low Jun.14) would aim for 1.4088 (low Apr.14) and then 1.4004 (low Apr.6). On the other hand, the next resistance aligns at 1.4351 (100-day sma) followed by 1.4408 (55-day sma) and finally 1.4452 (20-day sma).