U.K. Retail Sales
- Core Retail Sales (y/y) (Jan) 4.1% 3.0% 2.9%
- Core Retail Sales (m/m) (Jan) 1.2% 0.2% -1.0%
- Retail Sales (y/y) (Jan) 4.2% 3.4% 3.1%
- Retail Sales (m/m) (Jan) 1.0% 0.2%
The UK retail sales report for January exceeded all market expectations. This report unexpectedly showed sales growth in January, which updated the annual highs on a monthly basis more modest, while maintaining multidirectional dynamics, which shifted to growth.
Fig. 1. U.K. Retail Sales (m/m)
The GBP/USD pair remains limited by the risks of the Brexit agreement and the general geopolitical risks despite the optimistic data. As a result, this positive statistics may cause a moderate growth of the British for correction after a decline. Support levels are: 1.2770 and 1.2750, resistance: 1.2850 and 1.2880.
Fig. 2. GBP/USD chart. Current price – 1.2805
Read also: “Correlation Strategy for Forex Trading”
Hanzenko Anton
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