FxWirePro: GBP/USD extends gain after positive UK retail sales data.

• GBP/USD   climbed above 1.3500 level on Friday as stronger-than-expected UK retail sales data boosted sterling across the board.

•  British retail sales climbed unexpectedly last month, supported by strong online demand, adding to signs of economic improvement following finance minister Rachel Reeves’ budget, data on Friday showed.

•  UK retail sales volumes rose 0.4% in December from November, ONS data showed, marking the first increase since September and offering a brighter end to an otherwise weak quarter for retailers..

•Friday's data added to tentatively positive readings for economic activity for Reeves after her tax-raising November budget, despite more signs of cooling in the labour market and still-high inflation..

•   Immediate resistance is located at 1.3554( 38.2%fib), any close above will push the pair towards 1.3572(Higher BB)

•  Strong support is seen at 1.3464(SMA 20) and break below could take the pair towards 1.3445(50%fib).

  Recommendation: Good to buy  around 1.3510, with stop loss of 1.3450 and target price of 1.3600