Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity.
Usual Effect: A high reading or a better than expected number is seen as positive for the GBP, while a low reading is negative.
Frequency: Released monthly, about 20 days after the month ends.
Last Read : 0.4%
Expectations : -0.1%
Actual : -0.3%
Volatility : High Volatility
Market Impact : -0.3% is likely to bring sideways move within support and resistance level will possible to break below support level , there’s a small chance to make small rebound before the next fall.
Support and resistance : 1.5873 , 1.5940 , 1.6017 ,1.6079 , 1.6108 , 1.6183
Expected range : ( 1.5873 – 1.6108 ).
Technical Summary :with 1.6108 intact , further downside is likely , towards the 1.5940/1.5873 levels.
Strategy : Sell at resistance.