FX:GBPUSD British Pound/U.S. Dollar
Expected Retails Sales in the U.K for May are expected to be negative to -0.5%. This is a primary gauge of consumer spending, which accounts for the majority of overall economic activity. Anything better than expected will have Cable shoot up!!! But isn't this already in the price? My charts show an extreme scenario on the 1H and 4H charts. The pair has gained well over 1 figure since yesterday... I am expecting some 50-70 pip reversal to 1.6930-50 until the end of tomorrows session.