GBP/USD Price Forecast: Stalls below 1.2700 amid dismal UK retail sales
GBP/USD ticks up 0.15%, yet fails to decisively breach the 1.2700 resistance.
UK retail sales hit their lowest since April, dropping -3.4% against expectations of a 0.7% rise.
Downward pressure persists; support levels at 1.2600 and 1.2486 remain critical for near-term direction.
The Pound Sterling climbed modestly against the US Dollar on Tuesday, yet it failed to decisively clear the 1.2700 figure for the third consecutive trading day. At the time of writing, the GBP/USD trades at 1.2667, up 0.15%.
The Britail Retail Consortium (BRC) revealed that retail sales plunged to their lowest reading since April, with the index diving -3.4%, missing estimates for a 0.7% increase. According to the BRC, every retail category experienced a decline, with shopping centres seeing the sharpest drop due to a significant fall in footfall.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.