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GBP/USD Forecast: Trading the UK CPI report

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    GBP/USD spiked almost 200 pips on Monday as technical correction in the GBP/JPY pair gathered pace. The spot clocked a high of 1.4286 before trimming gains to end the day around 1.4235 levels. The latest sales monitor from the British Retail Consortium (BRC) showed yesterday retail sales were flat lined in March. Total retail sales were unchanged on March 2015, compared to a 4.7% annual increase registered in this month last year. The spot is trading today on the front foot around 1.4245

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