Sterling Trades Flat Ahead of U.K.’s Retail Sales Data, Important Fundamentals though Limited Volatility Likely in GBP Parity; Nov 19, 2021
U.K. Retail Sales
Today U.K. has scheduled to release 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 the actual release is greater than forecasted, it is good for GBP.
Let’s see how GBP has reacted during the previous data release:
- The sterling remains slightly volatile ahead of U.K. retail sales data.
- Today pair made intraday high at $1.3504 and low at $1.3481 mark.
- A day chart is down and H1 chart with triple EMA suggests up trend for the time being.
- A sustained close above $1.3512 on H1 chart will check key resistances.
- Alternatively, a consistent close below $1.3462 will check further supports.
Take a look and do trade wisely!