The pound is stable. Retail sales in the UK

The British pound maintains its positions against the US dollar, against the background of positive data on retail sales in the UK.

• The volume of retail sales grew by 0.1% in January, which is lower than the forecast at 1.5%, but exceeds the decline in December at -1.5%. On an annualized basis, the growth rate was 1.6%, which is higher than the previous value at 1.5%.
• The base retail sales index in January changed by 0.1%, against the decline in December at -1.5%. On an annualized basis, the growth rate was 1.5%, exceeding the previous value of 1.3%.

Technical analysis: The pair GBP/USD maintains an upward trend in the short term, which is largely due to the weak position of the US currency. The main support levels are 1.4020, 1.3975. The nearest level of resistance are considered at the mark of 1.3975.

The main recommendations: On the chart of H1, the indicators of the Stochastic Oscillator forex indicator are included in the oversold zone, against which the GBP/USD pair should be considered at 1.4020, 1.3975, with the corresponding indicator signal.

Fig. EUR/USD. The current price is $ 1.4101.

Alexander Sivtsov