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:
Jan 21:
Dec 17:
Technical View:
GBP/USD:
- 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.
SUPPORTS | RESISTANCES |
$1.3590 | $1.3618 |
$1.3572 | $1.3650 |
$1.3550 | $1.3672 |
$1.3521 | $1.3690 |
$1.3490 | $1.3711 |
Take a look and do trade wisely!
Good Luck

TP Global FX Research Team
With a decade of Forex Market insight, TP Global FX Research Team delivers you the Market Insight that boosts your Trading Skills