Pound surged to 1.33 zone on upbeat UK data / weak dollar

Cable rallied strongly on Thursday, supported by weaker dollar and upbeat UK retail sales (Aug m/m 0.3% vs -0.1% f/c / core Aug m/m 0.3% vs -0.2% f/c; y/y Aug 3.3% vs 2.3% f/c / core Aug y/y 3.5% vs 2.5% f/c).
The pair surged through pivotal 100SMA / Fibo barrier and cracked next target at 1.3280 (Fibo 76.4% of 1.3472/1.2661) to pressure round-figure barrier at 1.3300.
Strong fundamentals helped pound as technical studies remain bullish and maintain strong momentum for extension towards next key barrier at 1.3355 (base of thick weekly Ichimoku cloud).
Meanwhile, bulls may take a breather as bearish divergence and overbought conditions of daily slow stochastic warn of consolidative / corrective action.
Broken 100SMA now acts as strong support (1.3160) which is expected to contain stronger dips.

Res: 1.3301; 1.3355; 1.3362; 1.3400
Sup: 1.3214; 1.3160; 1.3134; 1.3091