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: pound will continue downtrend
2019-11-11 • Updated
Technical levels: support – 1.2670; resistance – 1.2900.
- Sell — 1.2800; SL — 1.2820; TP1 — 1.2700; TP2 — 1.2670.
Reason: bearish Ichimoku Cloud, but horizontal Senkou Span A and B; a cancelled golden cross of Tenkan-sen and Kijun-sen, the lines are horizontal; the market is under the pressure of Tenkan-Kijun’s resistance.
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!
This article will analyze the possible scenarios for the EU, and what's more important, look at the charts. There is a lot to see, let's go!
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