Condições de Negociações
Ferramentas
The rate of decline in UK retail sales was expected to slow from 3.1% to 2.6%, but it turned out that it fell to 3.0%. Moreover, previous data was revised downward to -3.9%. However, despite the data ending up significantly worse than expected, the pound continued to rise vigorously. The reason is that it still pertains to a slowdown in the pace of decline. That is to say, the situation is improving.
However, immediately after the opening of the US trading session, the pound started losing its positions and essentially returned to the levels it was at before the retail sales data was published. According to forecasts, retail sales were expected to fall by 1.1%, but instead, they increased by the same 1.1%. As a result, the dollar was able to return to its initial position.
Today, both Europe and the United States are observing a holiday, so the market will simply stand still. We can only expect changes in the market tomorrow.
The GBP/USD pair slowed its downward cycle around the 1.2350 level, which points to the decline in the volume of short positions. This resulted in a rebound and subsequently, a period of stagnation along the control level.
The RSI has left the oversold zone on the 4-hour chart during the price rebound but still remains in the lower 30/50 area.
The Alligator moving averages are headed down in the 4-hour chart, indicating the direction of the corrective movement.
Outlook:
Given the absence of major players in the market, we can assume that the price will likely trade along the 1.2350 level and this will persist for some time. This consolidation movement will eventually lead to an accumulation of trading forces and, as a result, new speculative price jumps.
The comprehensive indicator analysis in the short-term and intraday periods points to a rebound.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
Podemos usar cookies para analisar os dados dos nossos visitantes, melhorar nosso site e medir o desempenho da publicidade. No geral, esses dados são usados para proporcionar uma melhor experiência no site. Mais informações.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of Instant Trading EU Ltd including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.
We are sorry for any inconvenience caused by this message.