- GBP/USD testing support
- U.S. Retail Sales m/m
Price Movement
Since yesterday, GBP/USD moved up by around 40pips before coming back down for around 90pips.
Trend
GBP/USD is trending downwards.
Macro Background
The U.S. Retail Sales data measures the change in the total value of sales at the retail level.
It is scheduled to be released tonight at 2130 (SGT).
It is expected to perform worse than previous month. If the released data is worse than or as expected, we may see a weakening in the U.S. dollar and GBP/USD will be moving up.
Important Issue
None.
Technical
GBP/USD is currently testing the support level of 1.28667.
Price Levels
Current Price: 1.28652
Next Resistance: 1.30000
Next Support: 1.28667
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