Trading news

GBP/USD on its way to 1.2400 post-UK data

The British Pound is now accelerating its daily correction lower, dragging GBP/USD to the vicinity of the 1.2400 key support.

GBP/USD weaker on poor data

The pair met a wave of selling pressure after UK’s headline Retail Sales have unexpectedly contracted at a monthly 0.3% in January vs. a forecasted 0.9% gain.

In addition, Sales stripping the Fuel component also missed expectations, dropping 0.2% inter-month vs. a 0.7% gain initially estimated.

Spot quickly plunged to session lows in the 1.2400 neighborhood, where it is currently looking to hold.

GBP/USD levels to consider

As of writing the pair is losing 0.61% at 1.2414 and a breakdown of 1.2379 (low Feb.15) would aim for 1.2344 (low Feb.7) and finally 1.2250 (low Jan.19). On the other hand, the next hurdle lines up at 1.2572 (high Feb.7) ahead of 1.2680 (high Jan.26) and finally 1.2715 (high Feb.2).

AG Markets Review

Friday, 17 Feb, 2017 / 10:12

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : https://www.ag-markets.com/news/

Trading news

 

Can A Fed Interest Rate Hike Save The Dollar?

The dollar has been trending to the downside, particularly since the new covid [...]

Posted on Thursday, 25 Feb, 2021 / 2:28 under

Crude Rallies Despite EIA Inventories Build

Crude Higher As Risk Appetite Recovers Crude oil prices have been sharply [...]

Posted on Thursday, 25 Feb, 2021 / 2:27 under

Von Der Leyen: EU Is Catching Up With The UK

Greenback Index Flirts With 90 The dollar strength faded throughout [...]

Posted on Thursday, 25 Feb, 2021 / 2:26 under