GBP/USD Forecast: rejected once again from 1.5500

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Oct 22, 2015.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    Much better-than-expected UK Retail Sales for September sent the GBP/USD pair up to 1.5507, where the pair met again intraday selling interest. The pair has been unable to advance beyond the 1.5500 figure ever since reaching the level last week, following the release of soft inflation data and a firm increase in wages, which point to a continued increase in local consumption, and therefore increase chances of a rate hike. Retail Sales surprised to the upside, showing its 29th consecutive month

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