[GBP/USD]

[GBP/USD] retreated back to 1.4560 after reaching an initial intraday high of 1.4615. However, fresh buying from an Asian sovereign and a US prime sent the pair to a fresh intraday high around the 1.4620 level. More buying in the Gbp/Jpy by Japanese sec house and pension funds also gave a prop to GBP/USD. However, offers located at the 1.4630 level is likely to be stong enough to thwart off further rallies ahead of the UK retail sales report due at 9.30 GMT while fresh bids at 1.4540 by intraday specs will keep the downside protected.