Pound Stays Stable: Retail Sales Data

The British pound remains stable against the US dollar based on more optimistic data on retail sales in the UK, rather than expected.

• According to published data, the base retail sales index rose by 0.1% in October, exceeding the previous value at the level of -0.6%. On an annualized basis, the indicator fell by -0.3%, while analysts expected a decline of -0.4%.
• The volume of retail sales grew by 0.3% in October, exceeding analyst expectations at 0.1%. On an annualized basis, the indicator fell by -0.3%, against the forecast of -0.6%.

Technical analysis: Based on this statistics, the pair GBP/USD moves in a predominantly flat in the short term. The main resistance levels are 1.3211; 1.3245. Support levels are of 1.3130; 1.3085.

Fig. GBP/USD, current price is 1.3163.

Alexander Sivtsov