GBP/USD breaches 1.4400 on US docket

The Sterling has dropped to fresh lows vs. the greenback today, sending GBP/USD to the 1.4370/65 band following the US calendar.

GBP/USD in 3-week lows

Spot sunk to fresh 3-week lows in the vicinity of 1.4360 today, after US Retail Sales have come in on the strong side during April, advancing 1.3% MoM vs. 0.8% initially estimated. Excluding the Auto sector, Retail Sales have also surpassed expectations, up 0.8% vs. 0.5% forecasted.

The buying interest around the dollar has surged in the wake of the release, pushing risk-associated assets further south ahead of the Reuters/Michigan index, expected to improve a tad to 90.0 for the current month. 

GBP/USD levels to consider

As of writing the pair is retreating 0.52% at 1.4371 facing the immediate support at 1.4310 (55-day sma) ahead of 1.4079 (low Jan.21) and finally 1.4004 (low Apr.6). On the other hand, a surpass of 1.4531 (high May 12) followed by 1.4670 (high Feb.4) and then 1.4770 (high May 3).