Forex: GBP/USD eyes 1.5200 on better UK sales

FXstreet.com (Barcelona) - The British pound is hovering over the key resistance of 1.5200 on Thursday, after UK retail sales surprised traders rising 2.1% MoM in February and 2.6% on a yearly basis, crushing estimates and previous prints. Core sales (excluding fuel) expanded 1.9% on a monthly basis and 3.3% YoY.

At the moment, the cross advances 0.57% at 1.5188 with the next resistance at 1.5223 (high Feb.28) and then 1.5271 (Upper Bollinger).
On the downside, a breach of 1.5080 (MA21d) would expose 1.5030 (MA10d) and then 1.5026 (low Mar.20).

Mar 21, 2013

Forex: EUR/GBP tumbles on good UK retail sales and PSNB

The EUR/GBP traded sideways around the opening price of 0.8566 during the Asian session, but EUR weakness in reaction to disappointing Markit PMI data in France and Germany and the GBP strength ahead of UK retail sales and PSNB data sent the cross down to 0.8513 low. However, data release sent the EUR/GBP further down, to 0.8500 psychological level already.

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Mar 21, 2013

UK: Retail Sales surprised on the upside in February

National Statistics informed on Thursday that year-over-year UK Retail Sales jumped 2.6% in February, compared with the 0.5% drop in January and considerably above forecasts of +0.5%. On a monthly basis UK Retail Sales rose 2.1% in February, after sliding 0.7% in January and above expectations of growing 0.5%.

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