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21 Feb 2014
GBP/USD keeps 1.6670 after UK data
FXStreet (Edinburgh) - After a brief knee-jerk to fresh lows sub-1.6620, the GBP/USD managed to climb back to the 1.6670 area post-UK retail sales results
GBP/USD unchanged after data
Retail sales in the British economy contracted 1.5% inter-month, the biggest decline since April 2009; over the last twelve months, sales expanded 4.3%. Excluding Fuel costs, sales also dropped below estimates 1.5% MoM and advanced 4.8% on a yearly basis. Spot is now retracing the initial drop, back to the 1.6670/80 region.
GBP/USD levels to consider
At the moment the pair is up 0.15% at 1.6678 with the next resistance at 1.6700 (high Feb.20) followed by 1.6734 (high Feb.19) and then 1.6741 (high Feb.18). On the flip side, a breakdown of 1.6637 (low Feb.20) would aim for 1.6599 (10-d MA) and finally 1.6594 (low Feb.13).
GBP/USD unchanged after data
Retail sales in the British economy contracted 1.5% inter-month, the biggest decline since April 2009; over the last twelve months, sales expanded 4.3%. Excluding Fuel costs, sales also dropped below estimates 1.5% MoM and advanced 4.8% on a yearly basis. Spot is now retracing the initial drop, back to the 1.6670/80 region.
GBP/USD levels to consider
At the moment the pair is up 0.15% at 1.6678 with the next resistance at 1.6700 (high Feb.20) followed by 1.6734 (high Feb.19) and then 1.6741 (high Feb.18). On the flip side, a breakdown of 1.6637 (low Feb.20) would aim for 1.6599 (10-d MA) and finally 1.6594 (low Feb.13).