Trading signals

GBP/USD

GBPUSD

The UK retail sales beat estimates while PMIs were mixed. Traders ignored these figures and preferred to sell the pound amid lack of progress in Brexit talks, and a growing dollar. 

 

The main scenario is a recovery to 1.3160.

An alternative scenario assumes a decline to 1.3000.

 

Trading recommendations

 

The pound may start an upside correction towards 1.3160, if the level 1.3050 is broken.

If sellers challenge the 1.3030 area they will likely to break this level and will drag the spot to 1.3000.

 

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