British pound breakout soon?
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).
How to trade GBP/USD?
2020-01-13 • Updated
Last week GBP/USD has failed to stay above the 200-week MA (1.3065) for the second time. The pair has made a series of lower highs and is currently testing levels below the key psychological level of 1.30. The next important level on the downside is support at 1.2950 (the line connecting November and December lows). On the D1, the Awesome Oscillator topped and reached the 0 line. The fall below 1.2950 will open the way down to 1.2900. The key support will be located at 1.28 (the line connecting 2019 lows). On the upside, the return above 1.13020 is needed to allow a recovery to 1.3060.
Trade ideas
SELL 1.2945; TP 1.2900; SL 1.2955
BUY 1.3020; TP 1.3060; SL 1.3005
Similar
Japan's inflation is at 2%, but what about a weaker Yen?
Japan's inflation is set to reach 2% in April's reading, for the first time since 2015. But what about the weaker Yen?!
What to trade on May 16-20?
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!
Latest news
Last chance for bulls to exit the market. FBS explains the next two years for crypto
Crash of LUNA ecosystem and halving cycles. Glimpse into the future of the crypto market with FBS experts!
What To Trade On May 23 - 27?
Last week blew traders' minds! The US dollar dropped for the first time in seven weeks after Jerome Powell's speech on Tuesday…
Can a recession be avoided?
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.
