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SpanishSterling Turns Volatile Ahead of U.K.’s Retail Sales Data, 25+ PIP Volatility Likely; June 18, 2021
U.K. Retail Sales Data
Today U.K. will come up with the Retail Sales data at 0600 GMT/1130 IST. It’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity. If the actual data is higher than expected, it will be good for GBP.
Let’s see how GBP has reacted during the previous data release:
May 21:
April 23:
Technical View:
GBP/USD:
- The sterling remains volatile ahead of U.K.’s Retail Sales Data.
- The pair made intraday high at $1.3944 and low at $1.3910 mark.
- A day chart suggests bullish trend but H1 chart with triple EMA suggests down trend for the time being.
- A sustained close above $1.3976 on H1 chart will check key resistances. Alternatively, a consistent close below $1.3895 will check further supports.
| SUPPORTS | RESISTANCES |
| $1.3892 | $1.3976 |
| $1.3865 | $1.4012 |
| $1.3837 | $1.4040 |
| $1.3802 | $1.4065 |
| $1.3827 | $1.4090 |
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