GBPUSD - trendline and resistance , entry SELL

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GBPUSD trend forecast February 21, 2025

The United Kingdom's (UK) retail sector experienced a strong resurgence in January, with retail sales surging by 1.7% month-on-month (MoM), following a 0.6% decline in December, according to the latest data released by the Office for National Statistics (ONS) on Friday. Market analysts had anticipated a modest 0.3% increase, making this rebound significantly stronger than expected.

Excluding motor fuel sales, core retail sales posted an impressive 2.1% MoM rise, reversing the previous 0.9% decline and surpassing the forecasted 0.9% growth.

On an annual basis, UK retail sales advanced by 1% in January, compared to the 2.8% expansion recorded in December. Meanwhile, core retail sales saw a 1.2% year-on-year increase, outperforming the previous month's 2.1% rise. Both figures exceeded market projections, highlighting a resilient consumer spending trend.

Good uptrend from GBPUSD, along with waiting for PMI GBP not to have too many changes compared to the previous period, under selling pressure from the resistance zone 1.27200

/// SELL GBPUSD: zone 1.27150 - 1.27350

SL: 1.27650

TP: 40 - 80 - 150pips ( 1.25850 )

Safe and profitable trading

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تم فتح الصفقة

GBPUSD is falling ahead of today's USD PMI data