GBP/USD trades weaker after retail sales, sell on rallies

FX:GBPUSD   British Pound / U.S. Dollar
473 2 4
GBP/USD             has broken 1.5250 after release of weaker than expected UK retail sales.

UK Oct Retail sales decreased to -0.6% m/m compared to forecast of 0.5% Vs 1.9% in Sep and core retail sales declined to -0.9%. Decrease in retail sales has dampened the optimism over the country’s economic outlook and reduced the chance of rate hike by BOE.

Technically the pair is facing strong support around 1.5220 (55 4H EMA ) and any break below targets 1.5150/1.5080.

Short term bullishness only above 1.5305

It is good to sell on rallies around 1.5260-65 with SL around 1.5305 for the TP of 1.5180/1.5150
great sir i m always looking ur chart and take position its give me more confidence thanks
nice. agree.. here is my view..

EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out