- Pair is well supported above $1.4250 levels, made intraday low at $1.4204 levels.
- Intraday chart provides bullish signal if pair holds above $1.4125 levels.
- To the downside support levels are falls at $ 1.4125 and $1.4079 levels.
- Resistance levels are seen at $1.4325 and $1.4445 levels.
- Market awaits UK retail sales data at 0930 GMT. Market expects decline from 1.7% to -0.1% month-on-month, with the yearly print projected to weaken to 4.4% from 5.0% previously.
Recommendation: We prefer to buy GBP/USD around $1.4200 level, Stop loss at $1.4125 and target $ 1.4325.
