- Moving towards the 1.30 level
- British Retail Sales
- G20 Meetings
Price Movement
GBP/USD has been recovering from May’s defeat.
Trend
GBP/USD is currently trending upwards.
Macro Background
Retail Sales, which measures the change in the total value of inflation-adjusted sales at the retail level, will be released at 5:30pm.
The data is expected to perform worse than previous month.
If the released data is worse than expected, we may see a weakening in Pound.
Important Issue
As the G20 Meetings is on for the whole day, volatility may cause GBP/USD to have short-term movements.
Technical
GBP/USD is currently moving towards the 1.30 level.
Price Levels
Current Price: 1.29758
Next Support: 1.29152
Next Resistance: 1.30088