In today's session, GBPUSD continues to maintain an upward trend. At the time of writing, the British Pound is trading at 1.2264, supported by the adjustment of the US Dollar (USD), along with improved risk sentiment.
In my opinion, a correction will occur here, and thereafter, the price increase will be reset with an expected rise of 1.231.
The GBP/USD is facing downward pressure, dropping to the 1.2100 level before experiencing a modest recovery during the European trading session. Short-term technical prospects indicate that the downward trend remains intact.
Retail sales in the UK declined by 0.9% compared to the previous month in September, according to the Office for National Statistics. This data is weaker than market forecasts of a 0.1% decrease and weighs on the British Pound.
In my opinion, a correction will occur here, and thereafter, the price increase will be reset with an expected rise of 1.231.
The GBP/USD is facing downward pressure, dropping to the 1.2100 level before experiencing a modest recovery during the European trading session. Short-term technical prospects indicate that the downward trend remains intact.
Retail sales in the UK declined by 0.9% compared to the previous month in September, according to the Office for National Statistics. This data is weaker than market forecasts of a 0.1% decrease and weighs on the British Pound.
