UK Retail Sales (MoM)(Sep) declines to -0.3%,GBPUSD remains under pressure !

GBP
GBP

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.

MARKET DATA

UPCOMING ECONOMIC EVENTS

1 COMMENT

  1. I intended to write you the little bit of observation to finally say thank you as before with the pleasing techniques you’ve documented here. This has been tremendously generous with you giving easily all that numerous people would’ve made available for an e-book to help with making some cash for themselves, precisely given that you could have done it in the event you considered necessary. Those creative ideas as well served to be the great way to fully grasp that many people have a similar keenness just like my own to learn many more around this condition. I think there are numerous more enjoyable periods up front for folks who view your blog post.

Comments are closed.