Sterling Trades Almost Flat Ahead of U.K.’s Retail Sales Data, 20+ PIP Volatility Likely in GBP Parity; Feb 18, 2022
U.K. Retail Sales
Today U.K. will come up with the Retail Sales data at 0700 GMT/1230 IST. It’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity. If actual result ‘ greater than ‘Forecast’, is good for currency.
Let’s see how GBP has reacted during the previous data release:
- The sterling trades in narrow range ahead of U.K.’s Retail Sales data and trading above $1.3600 mark.
- Today pair made intraday high at $1.3620 and low at $1.3599 mark.
- A day chart and H1 chart with triple EMA suggest up trend for the time being.
- A sustained close above $1.3618 on H1 chart will check key resistances.
- Alternatively, a consistent close below $1.3590 will check further supports.
Take a look and do trade wisely!