GBP/USD hit 1.5492 during European morning trade, the session low; the pair subsequently consolidated at 1.5502, edging down 0.10%. The pound slipped lower against the U.S. dollar on Friday, as demand for the greenback remained supported by the previous session’s upbeat U.S. retail sales report and ahead of an additional report on U.S. consumer sentiment due later in the day. Cable was likely to find support at 1.5365, the low of June 10 and resistance at 1.5591, the high of May 20.The dollar found support after the U.S. Commerce Department reported on Thursday that retail sales increased by 1.2% last month, beating expectations for a gain of 1.1%, and that core retail sales, which exclude automobile sales, rose by 1.0% in May, compared to forecasts for a 0.7% increase.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5546 TARGET 1.5566 1.5596 SL 1.5516
SELL GBP/USD BELOW 1.5533 TARGET 1.5513 1.5483 SL 1.5563
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