Sterling: I see Eurozone problems begin to spread to UK
Last week, UK Retail Sales and CPI missed the forecast, I see Eurozone problems begin to spread to UK.
The brightest spot of UK is consumer spending, but it seems lost momentum when Retail Sales slumped from 5.9% to 3%
A surrender white flag I draw on the chart show that Sterling cut its rally at SMA50 and SMA200 + Kumo cloud.
This week, like EURUSD, I support more downtrend of GBPUSD to 1.5030
The brightest spot of UK is consumer spending, but it seems lost momentum when Retail Sales slumped from 5.9% to 3%
A surrender white flag I draw on the chart show that Sterling cut its rally at SMA50 and SMA200 + Kumo cloud.
This week, like EURUSD, I support more downtrend of GBPUSD to 1.5030
