20 Feb 2015
GBP/USD accelerates the downside
FXStreet (Edinburgh) - The pound is quickly depreciating vs. the US dollar following the release of UK retail sales, with GBP/USD falling to the 1.5350 area.
EUR/USD softer post-UK data
The pair intensified its intraday decline after UK headline retail sales contracted 0.3% inter-month and expanded 5.4% on a year to January; core sales – excluding the Fuel component – also dropped 0.7% on a monthly basis and expanded 4.7% YoY. Further UK data showed that Public Sector Net Borrowing decreased to £9.405 billion during January vs. £9.867 billion in the previous month.
GBP/USD key levels
The pair is now retreating 0.32% at 1.5360 and a breach of 1.5343 (low Feb.18) would expose 1.5317 (low Feb.17) and then 1.5300 (psychological level). On the other hand the next resistance lies at 1.5480 (high Feb.18) ahead of 1.5481 (23.6% of 1.7192-1.4952) and then 1.5519 (cloud top). On the flip side,
EUR/USD softer post-UK data
The pair intensified its intraday decline after UK headline retail sales contracted 0.3% inter-month and expanded 5.4% on a year to January; core sales – excluding the Fuel component – also dropped 0.7% on a monthly basis and expanded 4.7% YoY. Further UK data showed that Public Sector Net Borrowing decreased to £9.405 billion during January vs. £9.867 billion in the previous month.
GBP/USD key levels
The pair is now retreating 0.32% at 1.5360 and a breach of 1.5343 (low Feb.18) would expose 1.5317 (low Feb.17) and then 1.5300 (psychological level). On the other hand the next resistance lies at 1.5480 (high Feb.18) ahead of 1.5481 (23.6% of 1.7192-1.4952) and then 1.5519 (cloud top). On the flip side,