18 Jun 2015
GBP/USD outlook into UK Retail Sales data release – FXStreet
FXStreet (Barcelona) - GBP/USD could see a move towards 1.5941 or 1.5750, depending on the outcome of the UK retail sales data ahead, according to Omkar Godbole, FXStreet Editor and Analyst.
Key Quotes
“The UK retail sales in May are seen rising 4.8% year-on-year, compared to 4.7% in April. However, the focus seems to be on the monthly number, which is expected to show the retail sales growth stalled in May.”
“A weaker-than-expected data could trigger a much needed correction in the GBP/USD pair. The over stretched rally could push the pair lower to 1.5750 levels.”
“On the other hand, a better-than-expected data could lead the pair higher to 1.5941.”
“Moreover, a leap in the average hourly earnings could have translated into higher consumption and retail sales figure.”
Key Quotes
“The UK retail sales in May are seen rising 4.8% year-on-year, compared to 4.7% in April. However, the focus seems to be on the monthly number, which is expected to show the retail sales growth stalled in May.”
“A weaker-than-expected data could trigger a much needed correction in the GBP/USD pair. The over stretched rally could push the pair lower to 1.5750 levels.”
“On the other hand, a better-than-expected data could lead the pair higher to 1.5941.”
“Moreover, a leap in the average hourly earnings could have translated into higher consumption and retail sales figure.”