GBP/USD off highs, clings to 1.4600

GBP/USD climbed to a fresh 2-week high during the European session on the back of a strong UK retail sales print but then retraced most of its daily gains during the American session.

GBP/USD is taking a breather after a steep rally seen the previous day, which was triggered by polls showing that the “remain” vote is ahead in Brexit referndum. GBP/USD peaked at 1.4615 on Thursday but pulled back to the 1.4600-10 zone, where it trades virtually unchanged since opening.

GBP/USD levels to consider

As for technical levels, next resistances are seen at 1.4662 (May 19 high), 1.4695 (May 2 high) and 1.4768 (May 3 high). On the flip side, supports could be found at 1.4560 (May 19 low), 1.4500 (20-day SMA) and 1.4395 (May 17 low).