GBP/USD hit 1.4960 during European morning trade, the session low; the pair subsequently consolidated at 1.5008, sliding 0.19%. The pound fell agains the U.S. dollar on Thursday, after disappointing retail sales data from the U.K. and as the previous session’s U.S. home sales data continued to support the greenback. Cable was likely to find support at 1.4852, the low of April 21 and resistance at 1.5080, Wednesday’s high.In a report, the Office for National Statistics said that U.K. retail sales fell 0.5% last month, compared to expectations for a 0.4% rise and after a downwardly revised increase of 0.6% in February.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5080 TARGET 1.5100 1.5130 SL 1.5050
SELL GBP/USD BELOW 1.5010 TARGET 1.4990 1.4960 SL 1.5040
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