GBP/USD Forecast: shallow bounce, upside still limited

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Mar 24, 2016.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    The GBP/USD pair posted a shallow bounce from a low set at 1.4056 after the release of the UK Retail Sales, above expected, but well below previous month readings. In fact, retail sales fell in February by 0.4%, while year-on-year basis, came in at 3.8% matching expectations. Core reading, which excludes fuel, fell by 0.2% monthly basis, against a 1.0% drop expected. The poor reading is doing little for the Sterling that continues trading below the 1.4100 figure against its American

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