20 Aug 2015
GBP/USD dips to lows on UK data
FXStreet (Edinburgh) - The sterling is now losing momentum vs. the greenback, dragging GBP/USD to test session lows in the 1.5640/30 band.
GBP/USD weaker on UK data
The pair has accelerated its daily correction lower after UK Retail Sales rose a meagre 0.1% from June to July and 4.2% over the last twelve months; both prints coming in below forecasts. Core sales – excluding the Fuel component – have expanded 0.4% inter-month and 4.3% on a yearly basis, as expected.
There are no more scheduled data in the UK economy for the rest of the session, while Initial Claims and the Philly Fed survey will be in the limelight on the USD-side of the equation.
GBP/USD key levels
At the moment the pair is retreating 0.23% at 1.5642 and a breach of 1.5634 (low Aug.20) would aim for 1.5562 (low Aug.18) and then 1.5536 (low Aug.12). On the flip side, the initial up barrier aligns at 1.5703 (high Aug.20) followed by 1.5719 (high Aug.18) ahead of 1.5734 (high Jul.1).
GBP/USD weaker on UK data
The pair has accelerated its daily correction lower after UK Retail Sales rose a meagre 0.1% from June to July and 4.2% over the last twelve months; both prints coming in below forecasts. Core sales – excluding the Fuel component – have expanded 0.4% inter-month and 4.3% on a yearly basis, as expected.
There are no more scheduled data in the UK economy for the rest of the session, while Initial Claims and the Philly Fed survey will be in the limelight on the USD-side of the equation.
GBP/USD key levels
At the moment the pair is retreating 0.23% at 1.5642 and a breach of 1.5634 (low Aug.20) would aim for 1.5562 (low Aug.18) and then 1.5536 (low Aug.12). On the flip side, the initial up barrier aligns at 1.5703 (high Aug.20) followed by 1.5719 (high Aug.18) ahead of 1.5734 (high Jul.1).