Better than expected UK retails sees the pound rally strongly again 19 May 2016
The strength of the move, again overdone imho, just shows the bias on GBP pairs at the moment.
Can't deny the demand as traders/boxes run for cover. I'm still inclined to sell up here but I'm going to sit and watch for a while, following my own mantra of " If in doubt, keep out".
The bids at 1.4565-70 as per my order board held the early dip and now we need to see the price action from here if we are to make further attack on 1.4700 and beyond.
EURGBP demand/support nearby at 0.7650 may hold the key here so keep an eye on both pairs as ever.
