GBP/USD Analysis and News on 05092023: Better than expected UK retail sales

Описание: How to trade GBPUSD Today? Watch Trading Central's stock market video on Forex and currencies technical analysis and market news:
GBP USD analysis today: Better than expected UK retail sales

00:00 GBPUSD Market News Today
00:19 GBPUSD Technical Analysis Today
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• GBP/USD Market News Today :
On the macroeconomic front, the British Retail Consortium reported that U.K. like-for-like retail sales increased 5.2% on year in April vs +4.1% expected; also Halifax, the U.K. mortgage specialist unveiled that house prices fell by 0.3% in April, against +0.3% expected by economists and after +0.8% the previous month.

• GBP/USD Technical Analysis Today:
GBPUSD holds steady midday
The currency pair remains in a bullish trend supported by the rising 20DMA
The RSI (14) is within its buying area (between 50% and 70%)
The currency pair needs to break back above resistance at 1.266 to confirm the bullish bias
Suggest long positions above 1.2180 with targets at 1.2660 & 1.2970 in extension.
Below 1.2180 look for further downside with 1.2000 & 1.1800 as targets.

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