FXstreet.com (Barcelona) - The sterling has suddenly dipped to 1.5635, printing fresh session lows, ahead of retail sales in the UK, estimated to come in a hair lower in July at +1.4% YoY vs +1.6%. Excluding fuel, sales are expected to slow down to +2.0% YoY vs. +2.2%. Monthly figures are expected at -0.1% and -0.2% respectively.
Recall that in early sessions, UK CPI rose unexpectedly and the unemployment rate fell to 8.0% from 8.1%. BoE minutes were also bolstering the rally to levels above 1.5700, faltering afterwards.
GBP/USD is down 0.21% at 1.5648 with the next supports at the psychological level at 1.5600 followed by 1.557 (low Aug.10) and 1.5573 (low Aug.8).
On the ther side, a breakout of 1.5730 (highs Jul.31/Aug.14) would bring 1.5750 (high Jul.30) then 1.5766 (Upper Bollinger) and 1.5768 (high Jul.27).
Recall that in early sessions, UK CPI rose unexpectedly and the unemployment rate fell to 8.0% from 8.1%. BoE minutes were also bolstering the rally to levels above 1.5700, faltering afterwards.
GBP/USD is down 0.21% at 1.5648 with the next supports at the psychological level at 1.5600 followed by 1.557 (low Aug.10) and 1.5573 (low Aug.8).
On the ther side, a breakout of 1.5730 (highs Jul.31/Aug.14) would bring 1.5750 (high Jul.30) then 1.5766 (Upper Bollinger) and 1.5768 (high Jul.27).
