The pound showed little reaction on Thursday after data showing that U.K. retail sales fell in October, while demand for the dollar continued to be underpinned after Wednesday’s Federal Reserve minutes flagged a December rate hike.GBP/USD was trading at 1.5247, from around 1.5252 ahead of the data.The Office for National Statistics said retail sales fell 0.6% last month, worse than forecasts for a decline of 0.5%. On a year-over-year basis, retail sales rose 3.8% in October, below expectations for a 4.2% gain, after rising at an annualized rate of 6.2% in September.Sterling was slightly lower against the euro, with EUR/GBP edging up to 0.7005. The U.S. dollar index, which measures the greenback’s strength against a trade- weighted basket of six major currencies, was down 0.26% to 99.41, easing back from Wednesday’s highs of 99.96, the strongest since April 14.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5280 TARGET 1.5300 1.5330 SL 1.5250
SELL GBP/USD BELOW 1.5230 TARGET 1.5210 1.5180 SL 1.5260
No comments:
Post a Comment