Skip to content 
Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.34580 with take profit at 1.34723
Bearish Preference:
Sell position is envisaged if price trades below 1.34243 with take profit at 1.34059
Fundamentals:
2:30pm USD Core Retail Sales m/m
USD Retail Sales m/m
3:15pm USD Industrial Production m/m
Comment: The spotlight is on the U.S. consumer today, with October retail sales data coming out within an hour or two of earnings. Analysts expect a 1.2% rise from September, which would be the biggest monthly rise since March, when the U.S. lifted most of its lockdown restrictions on stores. There’s an implicit tension between that forecast and the University of Michigan’s consumer sentiment index, which fell to a 10-year low at the start of this month.
Analysis: SCRUM Team
