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• GBP/USD strengthened on Friday as strong UK retail sale data provided an extra boost to the currency's upbeat trend..
• British retail sales rose by a stronger-than-expected 1% in August, with July's growth also revised upward, according to official figures.
• The data gave an additional lift to the pound's positive trend, which reached its highest level against the dollar since 2022 this week, following the Federal Reserve's 50 basis point rate cut.
• At GMT 16:51, the pair was trading up 0.49% at 1.3337, touching March 2022 highs for the third consecutive day.
• Immediate resistance is located at 1.3343( 23.6%fib), any close above will push the pair towards 1.3367(Higher BB)
• Strong support is seen at 1.3267(Daily low) and break below could take the pair towards 1.3219(38.2%fib).
Recommendation: Good to buy around 1.3300, with stop loss of 1.3240 and target price of 1.3400
