Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
GBP/USD is like a phoenix
2019-11-11 • Updated
TP1 1.3060 TP2 1.3090 TP3 1.3150
Like a phoenix, the British pound is rising from the ashes. On the daily chart, GBP/USD keeps forming a “Spike and reversal with acceleration”. Buyers managed to push the pound above then trend line of the spike. Now they are ready to retest the trend line of the initial stage. If they succeed, the odds of a “Shark” pattern with 88.6% will increase.
On H1, bulls failed at the first attempt to get through the 1.2925-1.2937 convergence area. To continue the rally, GBP/USD needs to rise above resistance at 1.2960.
Japan's inflation is set to reach 2% in April's reading, for the first time since 2015. But what about the weaker Yen?!
Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
Crash of LUNA ecosystem and halving cycles. Glimpse into the future of the crypto market with FBS experts!
Last week blew traders' minds! The US dollar dropped for the first time in seven weeks after Jerome Powell's speech on Tuesday…
The pandemic continues hurting economic activity in China, the war in Ukraine is hitting the entire European economy, and the Fed's efforts to control inflation threaten to trigger a recession.