GBP/USD Forecast: strong selling interest on spikes

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Dec 17, 2015.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    The Pound set a fresh weekly low against the greenback, with the GBP/USD pair bouncing from of 1.4918, before the release of the UK Retail Sales figures for November, which resulted to be much better-than-expected. According to official data, sales grew by 1.7% in the mentioned month, well above market's expectations of 0.5%. Compared to a year before, sales increased by 5.0%. The good news helped the pair spiking up to 1.5007, but strong selling interest around the figure rejected buyers, and

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