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GBP/USD Forecast: weak retail sales hit the Pound

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Nov 19, 2015.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    The GBP/USD advanced up to 1.5293, a fresh 2-week high early Europe, but worse-than-expected UK retail sales, sent the pair back lower. In October, the UK retail sales fell by 0.6% compared to the previous month, resulting in an annualized gain of 3.8%, compared to expectations of a 4.2% advance and a previous reading of 6.5%. Having practically erased all of its intraday gains, the GBP/USD pair 4 hours chart shows that the early advance stalled around the 200 EMA, usually a strong dynamic

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